Families who do not get along are common. Bad family dynamics should be considered when it comes time to do your estate planning, including your will or trust. Fractured relationships may cause you to disinherit that person, as unpleasant as it may be. Additionally, divorce, blended families, or addiction tend to change family relationships faster…Read More
In the context of estates, when a person dies, a probate or estate proceeding is often commenced in the county in the state where the decedent resided at the time of his or her death. This proceeding is often referred to as the “domiciliary probate.” However, when a non-resident decedent dies leaving real property and/or…Read More
Although charitable giving is not the first thing that comes to mind when people begin their estate planning, most people do want to use their money to help change the world. The thought of estate planning all by itself is a daunting project. Who wants to think about the end of their lives? The idea of allocating your…Read More
This is a great question and one that we hear often. Estate tax and inheritance tax are two different things. The estate tax is a tax on a person’s assets after death..In 2021, the federal government assesses a tax on all estates with a value greater than $11.7 million. Estate tax ranges from 18% to 40% once…Read More
Advance care planning is planning for care you would get if you become unable to speak for yourself. Many people assume that their families will know what to do when it comes to their family members’ care, but few Americans have had detailed conversations about their wishes for end-of-life care. These family conversations can be liberating. Making…Read More
Thanks to the advances in medical science, people are living longer than ever before. As we grow older, we may find ourselves in a position where decisions need to be made about our care. If we are in a condition where we cannot express our preferences about treatment, decisions will be made for us by…Read More
You may arrive at a point in life where you need to educate yourself on the legal options available to you as you care for aging parents. If a person loses the capacity to make big decisions for themselves, powers of attorney and guardianships provide different options for making important choices. Understanding the differences between…Read More
Writing a will is not a pleasant task for most people, but it is one of the most critical things you can do for your family. If you put your wishes down in writing, your loved ones can avoid unnecessary hassles after you’re gone and it gives you peace of mind, knowing that your assets…Read More
It used to be that when someone died, there was a basic plan to settle their estate: clean out the house, go through all the papers, and file a tax return at the end of the year. Times have changed. Today we live part of our lives online, which can cause problems for our loved…Read More
What happens to a person’s estate if they die without a will? If you die without a will, you give up control of your estate to the state where you lived. The laws of your state will determine who your heirs will be and the state will choose the executor of your estate. In other words,…Read More
