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Don't Gamble with Your Future: Why Choosing the Right Estate

February 16, 2024
Estate planning: two words that encapsulate the entirety of your life’s work and the legacy you wish to leave behind. It is a profound yet often misunderstood aspect of personal finance and legal preparedness. As an experienced estate planning attorney, I’ve seen firsthand the turmoil and heartache…
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How Does a Living Trust Protect Your Legacy

February 15, 2024
A living trust won't be for everyone. However, it can provide big benefits for some. Many people use a living trust for one big reason: avoiding probate. However, there are other reasons you should seriously consider.
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Understanding the Generation-Skipping Transfer Tax (GSTT)

February 13, 2024
As an estate planning attorney, I frequently encounter questions regarding the Generation-Skipping Transfer Tax (GSTT). This tax, often overlooked, plays a critical role in the strategic planning of estate transfers. In this article, I aim to demystify the GSTT and provide practical tax tips to those navigating this complex area. Understanding the Generation-Skipping Transfer Tax The Generation-Skipping Transfer Tax is a federal tax on transfers of property that skip a generation. This tax was introduced to prevent families from circumventing estate tax by transferring wealth directly to grandchildren or other “skip persons.” The Mechanics of GSTT The GSTT is levied…
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Estate Planning for High Net-Worth Individuals with

February 12, 2024
Residual income, especially prevalent in the entertainment industry, refers to ongoing payments received for work done in the past. This income can stem from royalties in TV shows, movies, music, or books. A notable example is the late Matthew Perry, whose role in Friends brought him substantial residuals, as highlighted in a CNBC article. The Importance of Estate Planning for Residual Income For individuals with significant residual income, estate planning is crucial. It ensures that their assets are distributed according to their wishes and can help mitigate complex legal and financial issues after their passing. Case Study:…
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How to Liquidate Assets after a Loved One's Death

February 11, 2024
The loss of a loved one is a difficult time, often compounded by the necessity of addressing estate settlement and the liquidation of assets. In this guide, we’ll explore the key steps involved in liquidating assets after death, focusing on estate settlement processes and related legal considerations. Understanding the Role of…
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How Do Special Needs Trusts Work?- 2

February 10, 2024
One of the most commonly recognized instruments for protecting assets for a disabled beneficiary is through the use of a Special Needs Trust, also known as a Supplemental Needs Trust.
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Estate Planning Tips for Blended Families to Protect New Goals and Loved Ones

February 9, 2024
Estate planning for blended families presents unique challenges. Unlike traditional family structures, reports Barrons recent article titled, “When Remarrying Creates a Blended Family: Advice From Financial Pros,” blended families often involve complex relationships and diverse financial backgrounds, making the process of estate and financial planning more intricate. This article has tips for blended families on identifying overall estate planning goals and concerns and identifying heirs to protect your new family and future.
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Should You Have a Revocable Trust?

February 8, 2024
There is a lot of confusion out there about the difference between a revocable and an irrevocable trust.
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How Does a Pour-Over Will Work?- 2

February 7, 2024
For those who want to avoid the court-controlled process that takes place after a person’s death (known as “probate”)—using a Revocable Living Trust is typically the best way to do so.
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Why You Should Consider a Living Trust for Your Estate Planning

February 6, 2024
When it comes to estate planning, many people think of a will as the go-to document for ensuring that their assets are distributed according to their wishes after they pass away. However, a living trust can often be a more effective tool for many individuals, offering benefits that a will cannot provide. In this article, we’ll explore why you should consider a living trust to be a cornerstone of your estate planning strategy. What Is a Living Trust? A living trust is a legal document that places your assets into a trust for your benefit during your lifetime and then…
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