AROUND THE WEB: Majority of Millennials do not have Estate Plan
With so many economic uncertainties facing today’s generations, it should be no surprise that most millennials are not prioritizing their need to create a will or trust. According to this article, Trust & Will’s fourth annual study on millennial estate planning reveals the struggle of balancing immediate financial needs with long term planning. A reported […]
7 Essential Questions to Ask Your Lawyer for Wills and Trusts
67% of Americans do not have a will or living trust. Life gets in the way, and many of them simply never had the time to get around to it. Estate planning can feel like a grim discussion, but it can also be a final message of love and a heartfelt goodbye. The decisions you make […]
What Every Client Should Know Before Meeting with an Estate Planning Law Firm
According to a 2023 survey, 58% of Americans have experienced disputes personally or know of conflicts others have had over a lack of estate planning. Some have found that rather than being distributed according to their late loved one’s wishes, their assets fall under the control of the courts. However, these stressful situations can be avoided with […]
Around the Web: Now is the time to act before changes affect federal estate and gift tax!
Federal estate and gift tax exemption was increased in 2017 from $5.49 million per person to $11.18 million. This was a huge increase in what taxpayers were allowed to transfer without triggering taxes. With adjustments for inflation, the exemption is at $13.61 million for individuals and $27 million for couples. However these changes will expire […]
Estate Planning: 9 Benefits of Planning for Your Children
As you sit in your favorite armchair, sipping a cup of coffee and flipping through old photo albums, your mind drifts to the future. What legacy will you leave for your children? Estate planning may not be the most fun topic, but its significance cannot be overstated. Let’s go through the benefits of planning for your […]
Around the Web: Estate Planning is Essential in Agriculture Industry
Farmers face many challenges on a daily basis, however the greatest of them all may just be ensuring the preservation of their land. By having a proper estate plan in place, you can help prevent your cherished farmland from being lost. This article highlights a few misconceptions about estate planning that may negatively impact your […]
How To Prepare for Death Well Before the Time Comes
How to prepare for death is a topic often avoided, yet it’s a crucial aspect of responsible financial planning. Surprisingly, two-thirds of Americans have no estate plan in place, leaving their loved ones vulnerable to a financial quagmire upon their passing. Without a clear plan in motion, assets may be distributed haphazardly. This can lead to disputes […]
FinCEN Begins Accepting Beneficial Ownership Information Reports: What to Know
The United Nations estimates that the amount of money laundered globally is as high as $2 trillion a year. Governments around the world are taking steps to protect the financial system from crimes like money laundering. Among the new measures in the U.S. is the Corporate Transparency Act (CTA). Congress enacted the CTA in 2021. The […]
Around the Web: Don’t Overlook the Importance of Title Insurance
If you’re in the process of buying a home, the costs can add up quickly. If you’ve ever thought about avoiding title insurance, this article from The Ascent explains why that may not be in your best interest. Title insurance can help protect you against any competing claims or liens on the property, and […]
Navigating Estate Planning in Second Marriages: Tips and Strategies
Those with children from prior relationships must consider the impact of 2nd marriages on their children’s ability to inherit. About 50% of adults remarry within five years of a divorce, with 18% of blended families having at least one stepchild. Measures also reduce impact if you fall into the 60% category of failed second marriages. Regardless of […]