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Privacy in Estate Planning

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  In these times of technology and security breaches, our personal privacy is a top concern.  If you choose a Last Will and Testament as your estate planning document, or you choose not to create an estate plan at all, and you pass away, do you realize that private, personal information will be revealed to the public?  Most people don’t, however that may be exactly what will happen in a process … [Read more...] about Privacy in Estate Planning

Portability in Estate Planning

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  Portability was introduced under the American Taxpayer Relief Act of 2012 and is effective for married persons dying on or after January 1, 2011. It has the potential to save you greatly in estate taxes, but you must act quickly if you intend to make a portability election. Here is some background: Currently, the federal estate and gift tax exclusions are unified at 5.34 Million Dollars, … [Read more...] about Portability in Estate Planning

Divorce, Opportunists and Lawsuits: The Top 3 Risks that Cause Parents Worry

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 The top three risks that parents worry about are:  Divorce, Opportunists, and Lawsuits.  Many clients are concerned about the son-in-law and daughter-in-law divorcing their child and walking away with a big chunk of their estate.  And why shouldn’t they worry?  With a divorce rate in America topping every other country, the chances of your kids having a long and happy marriage are not good.  … [Read more...] about Divorce, Opportunists and Lawsuits: The Top 3 Risks that Cause Parents Worry

Divorce, Opportunists, and Lawsuits: The Top 3 Risks that Cause Parents Worry (Audio)

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  "Divorce, Opportunists, and Lawsuits: The Top 3 Risks that Cause Parents Worry" by Attorney Nicole Livingston … [Read more...] about Divorce, Opportunists, and Lawsuits: The Top 3 Risks that Cause Parents Worry (Audio)

What Happens to Tangible Personal Property When Settling an Estate

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 Part of the process when settling an estate after someone has died is to consider their tangible personal property, i.e. furniture, jewelry, china, crystal, artwork, electronics, and vehicles.  The first duty of the representative of the estate is to obtain an appraisal of these items.  The appraisal is needed to determine the value of the property before distribution and taxes can be considered … [Read more...] about What Happens to Tangible Personal Property When Settling an Estate

What Happens to Tangible Personal Property When Settling an Estate? (Audio)

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  "What Happens to Tangible Personal Property When Settling an Estate? " by Attorney Colleen Sinclair Prosser … [Read more...] about What Happens to Tangible Personal Property When Settling an Estate? (Audio)

Who is Responsible to Pay the Debt of a Deceased Loved One?

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  If you've helped settle an estate before or even sorted through the belongings of a deceased love one, you're probably familiar with the debt that continues to accrue following their death.  Recent medical expenses and credit card bills are common, and children handling a parent’s estate are often concerned that they are responsible for paying this debt. Family members are generally not … [Read more...] about Who is Responsible to Pay the Debt of a Deceased Loved One?

Why Traditional Estate Planning May Not Be the Answer

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   Most estate planning lawyers, accountants, and financial advisors in the field of traditional estate planning are taught only two things: protect the clients’ material wealth from the evils of probate and taxes.  Now let me ask you, just as a reality check, how do most people actually plan their estates?  In our experience, they either do nothing or they create a simple Will, to look after a … [Read more...] about Why Traditional Estate Planning May Not Be the Answer