Gifts During Lifetime Has Advantages

You probably give to others each year, such as for birthdays and Christmas gifts. Gifting can be done for other reasons, including during life or as bequests at death. The reasons for doing so could be to accomplish nontax or tax goals.

What If I Give Unequal Inheritances to My Kids?

Most of us would like to be remembered for who we were, not what we had. If you have any assets that you’ve accumulated during your lifetime that you plan to leave behind, it’s on you to figure out who gets what.

How Do Family Relationships Mess Up Estate Planning?

April 23, 2019
Bill O’Leary, Esq.
Estate Planning, Probate and Estate/Trust Administration

Families should plan early and communicate their wishes to their estate planners, as well as update their legal documents to reflect those wishes.

Why Should I Check My Retirement Account Beneficiaries?

Have you checked your beneficiary designation for your retirement account recently? If not, you may find that your designated beneficiary is not who or what you think it should be, especially if you have divorced, remarried or had children, since your retirement plan account was established.

How Do I Plan for End-of-Life Measures for a Loved One?

April 17, 2019
Bill O’Leary, Esq.
Elder Law, Estate Planning, Long-Term Care Planning, Power of Attorney

This is a sad reminder that families who don’t agree on end-of-life measures can cause friction and additional grief, at a time when unity should be a primary concern.

When Do I Need a Revocable Trust?

April 15, 2019
Bill O’Leary, Esq.
Asset Protection, Estate Planning, Life Insurance, Power of Attorney, Special Needs Planning

The Last Will and Testament plays an essential role in estate planning and without question everybody should have one.

What Are the Biggest Threats to Estate Planning?

For the second consecutive year, family conflict was identified as the leading threat to estate planning.

Did Luke Perry Plan His Estate?

When Luke Perry, whose full name was Coy Luther Perry III, died on March 4, 2019, he was surrounded by family and loved ones. Tragically, the actor—who rose to fame playing a teenage heart-throb on Beverly Hills 90210—died from a condition that almost everyone thinks of as one that only strikes "old" people. Fortunately, Perry's foresight to do the proper estate planning, meant that the tragedy was not made worse for his family.

Why Should I Create a Trust If I’m Not Rich?

The perception is that trusts are for the very wealthy and that they cost a ton of money to set up. The reality is a trust can be a fantastic tool for the average person or couple, because it simplifies things in the event of your death.

Why Is a Revocable Trust So Valuable in Estate Planning?

Trusts are one of the most versatile items of the financial planning toolkit. However, they are not just for rich people. With the new higher estate tax exemptions, avoiding or reducing estate tax is not a concern for most of us.