Preserve Your Legacy

Estate Planning | Elder Law | Special Needs Planning

Blog Posts in November, 2010

  • Gift Giving Provides Tax Flexibility

    One of the big changes that the new year is going to bring along that has an impact on estate planning is the return of the estate tax. One of the provisions of the sweeping tax cuts of 2001 was a repeal of the estate tax in 2010, but it will be returning again in 2011. This in and of itself is highly relevant, but in addition to its mere reappearance, the estate tax exclusion amount in 2011 will ...
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  • Incentive Trusts Are Useful Estate Planning Tools

    When you evaluate your estate and recognize the fact that you are in a position to provide inheritances for your loved ones that will have life changing impact, you invariably feel a sense of profound responsibility. It is not as easy as simply handing over a large sum of money and letting the rest take care of itself. Having no financial motivations in life can prevent people from reaching their ...
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  • A QPRT Can Preserve Your Estate Value

    In 2011 the estate tax is back after a one year temporary repeal, and the thing about it that can take a lot of people by surprise is the new exclusion amount. In 2009 the exclusion was $3.5 million, so if the total overall value of your estate did not exceed this number it was not subject to the estate tax. However, in 2011 this figure has been shrunk down to just $1 million, and the maximum rate ...
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  • Service Rewarded with Veterans A & A

    Most people are aware of the fact that those who serve in the armed forces for at least twenty years are eligible to receive a retirement pension. This reward has always been a good recruiting tool because an individual could choose to join the military right out of high school, gain an education and job experience while serving, and then retire before the age of forty earning a pension while ...
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  • Guardianship, Conservatorship, & Proper Planning

    There are those who are under the impression that the only thing that they need to plan when they are considering their estate is the eventual distribution of their assets after they pass away. This is really not the case, because it is also important to address matters that can crop up when you are still alive but unable to make decisions for yourself. As we all know people who are reaching their ...
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  • Your Estate Plan & Your Pets

    When you are planning your estate during the earlier stages of adulthood you are going to have a very different focus that you will have later on. If you have dependent children still in the home, making sure that they are provided for come what may will be your primary concern. Financially you can protect them by purchasing adequate life insurance coverage, and this is something that estate ...
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  • Long-Term Care Costs Rising

    When you are doing your estate planning research you will frequently hear mention of the fact that the population of the United States is getting older and the senior population is rising. A very interesting dynamic emerges when you combine this demographic with the fact that medical science is advancing by leaps and bounds, fueled by amazing technological breakthroughs. More people are living ...
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  • Education: The Gift That Keeps Giving

    If you have the need to create an estate plan there is little doubt that you understand the value of education and how it fundamental it is to wealth building. There are exceptions of course, but in a very real sense you determine your own future economic status when you are in college depending on the course of study you embark on and how far you take it. True as this may be, many young people ...
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  • The HIPAA and Health Care Proxies

    In addition to the financial matters that you must attend to when planning your estate it is also important to address the realities of aging as they apply to health care. People in the United States are enjoying ever-increasing life spans and medical science can do amazing things, so Americans are routinely living into their late eighties and beyond. When you reach such an advanced age it is not ...
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  • Estate Planning & Procrastination

    Many people have a tendency toward procrastination, and when you do put things off they are usually going to be things that you would prefer not to do. There is no denying the fact that considering the end of your life and possible disability or incapacitation leading up to your death is not the most pleasant way to spend an afternoon. Some people don’t want to “go there” until they absolutely ...
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  • Make Your Life Story Part of Your Legacy

    Estate planning involves the tangible, things like asset transferal and health care preparations, but there is something far more significant at play when you are planning for the end of your life. When you inventory your possessions you may find that the sentimental value of some of the things that you are passing on means far more to you to than their monetary value. Indeed, the things that we ...
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  • Achieving Goals Takes Planning

    Anyone who has been successful in business knows that you need to set goals and work toward achieving them, both short term and long term. This is also true in the realm of estate planning, because you have to identify what you would like to accomplish with your estate early on to work toward making your intentions a reality. Estate goals are a personal matter, and there are those who concur with ...
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