Estate Planning: Considerations When You Have a Stepfamily

Step family Estate Planning

Ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger blended family unit. Unfortunately, when the estate plan lacks clarity, it too often also creates inheritance fights between stepparents and children. Read More …

Why Everyone Over 60 Should Update Their Estate Plan

when to review estate plan

How frequently you should review your estate plan depends on how old you are and whether there has been a significant change in your circumstances. If you are over age 60 and you haven’t updated your estate plan in many Read More …

New Advice: Consider Leaving an IRA to a Special Needs Trust.

Special Needs Trust Beneficiary of IRA

The SECURE Act, passed at the end of 2019, changed a number of rules regarding inherited IRAs, making it more difficult for most beneficiaries to save on taxes by “stretching” distributions over many years. (Read our post, SECURE Act Increases Tax Read More …

Senators Propose Sweeping Changes to the Taxation of Estates and Inherited Gains

Inheritance Tax Changes

Vermont senator Bernie Sanders (D) has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy. Taken Read More …

Will the New Administration Change Estate Tax or Stepped-Up Basis Rule?

Avoid Estate Tax with Local Estate Planning Attorney

While it remains unclear exactly what tax changes President Biden’s administration will usher in, a new administration usually means that tax code changes are coming.  Two possibilities are that the new administration will propose lowering the estate tax exemption and Read More …

Theft from Special Needs Trust. Consider Using a Professional Trustee.

Special Needs Trust Attorney Keeps Theft from Happening

A New Jersey man has been charged with stealing $330,000 from the special needs trust (SNT) of a man living in a long-term care facility.  The case highlights the importance of having a professional trustee manage a special needs trust. Read More …

Update Your Estate Plan when Moving to a New State.

Estate Planning Attorney Ohio Near Me

If you’re planning to move to another state, tell your estate planning attorney. There are a number of components making up your estate planning and long-term care planning that could be effected. Previous posts: Does My Living Will, or Advance Read More …

Maximize Life Insurance as an Estate Planning Tool

Life-Insurance-Estate-Planning

Life insurance can play a few key roles in an estate plan, depending on your age and situation in life. Because life insurance passes outside of probate, it can also provide heirs needed funds more quickly than assets passing through Read More …