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Estate Planning

Information for Executors


"I'll Take Care of Everything"

Planning for disposition of your property after you are gone is a privilege and a responsibility. Often your family's financial security and future happiness may be dependent upon how efficiently your assets are transferred. Efficiently disposing of your property by means of a will requires the selection of a competent and trustworthy executor. Too many people delegate and accept this responsibility based on friendship or family. When deciding whom to choose as the executor of an estate,... more

Beneficiary Selection and Designation


Selecting the Best IRA, 401(k), Annuity or other Retirement Type Account Beneficiary

Many individuals drastically underestimate the cost of securing private health insurance when they are retiring early, changing jobs, or as a result of downsizing when pre-existing conditions exist. There are in place nationwide safe guards to assure an individual who was previously covered by a group plan the opportunity to secure private coverage when employment eligibility or COBRA ceases. These individuals relying on what they thought they understood about HIPPA regulations have quite... more

Trusts Management


Further Estate Considerations: A Trust to Manage Assets

You will recall that an estate owner's family will be the recipient of capital from four sources in addition to his government programs: his personal assets, real estate, business assets, and life insurance. We have found that most people "husband and wife alike" would prefer to have all these assets in one place and under one management after the estate owner's death. One popular estate planning arrangement for accomplishing this objective involves a simple two-step process. An... more

Estate Plans and Your Family


Estate Planning for Newlyweds

By Anna Wroblewska. The first thing you want to do as a newlywed probably has nothing to do with estate planning, but it's critical to tackle it early. Taking the time to sit down with your spouse and update your estate plans will ensure that, should the worst happen, your new family is prepared to handle the unexpected. So what do you need to do? Start small: Change your account beneficiariesThe quickest and easiest thing to update is the beneficiary, or "transfer on death" designations,... more

Charity and Donations


Family Foundations: New Tricks from an Old Dog

The pinnacle of family success and legacy has always been the private family foundation. For years, only the ultra-wealthy could enjoy the rewarding aspects of philanthropy and the pride of influencing generations to come. These vehicles are not just for the Rockefellers and Gates anymore. New innovations have reduced the cost and administrative hassles of establishing, maintaining, and running a foundation. Today, a private foundation may be an attractive option for a family with as... more

Will Management


Advance Directives: Make Your Wishes Known

The Terri Schiavo case brought the nation's attention to a difficult but important issue: Who will make critical decisions regarding your health care if you are unable to do so "Fortunately, there is a legal means of addressing this potential future concern" an advance directive. Generally speaking, an advance directive names someone to act on your behalf or outlines how you want medical decisions to be made if you are unable to speak for yourself. While advance directives are not financial... more

Planning Your Estate


Estate Planners and New Tax Rules: Changes to Know About in 2014

By James O'Brien. If you meet the threshold for?estate taxes, think of 2014 as a landmark year in your planning. The rules surrounding exemptions and gifts have changed, and the impact could be far-reaching for your family -- perhaps more so than many planners initially realize. As the new structures fall into place and the details of new limits and portability within your legacy assets come into focus, you'll want to pay attention to the following key details. They represent remade horizons... more