Category Archives: Estate Planning
How to Protect Your Assets from Creditors in Estate Planning
Many people do not realize that estate planning isn’t just about providing for your loved ones after you’re gone, but also about ensuring that all of you do not face potential legal issues when it comes to creditors and others seeking your assets. This is especially important during an economic crisis like the one… Read More »
What You Need to Know If Your Spouse Has a Terminal Illness and You Are Updating Your Will
Estate planning and ensuring that all of your important documents are updated never becomes more urgent than when a spouse becomes ill, and suddenly you find yourself panicked over whether you will be able to provide for your children, should your spouse pass from that illness. One of the first steps people usually take… Read More »
Why Setting Up a Grantor Retained Annuity Trust During COVID-19 Could Significantly Maximize Assets You Pass onto Beneficiaries
There is no question that although COVID-19 has brought a tremendous amount of devastation and panic to our country and economy, there are, at the same time, some unique opportunities that it has introduced into estate planning that have to do with instruments that have been put in place precisely to benefit from growing… Read More »
What Is at Risk If Your Will Is Panic-Written During the Coronavirus Pandemic
The current pandemic understandably has many people panicked such that they want to make sure everything is in order with their estate plan. However, it is extremely important that, as a result of the pandemic, you do not rush into drafting or updating your estate planning documents, especially when it comes to writing your… Read More »
The HEMS Distribution Standard: Administering Trusts During a Recession
When the economy goes through a downturn, as is occurring now during the coronavirus pandemic, where a number of people have lost their jobs, expenses are increasing, and some are also experiencing expensive health crises, trustees are often under more pressure to distribute assets under what is known as the “HEMS” standard, which is… Read More »
If You Own a Second Home, Make Sure You Plan for It in Your Estate Plan Now
More than seven million Americans have second (or vacation) homes, and many are now concerned that, as a result of the coronavirus bailouts, they could face an increase in estate taxes in the next few years. For this reason, planning for these assets is a very important part of your estate planning process, and… Read More »
Current Estate Planning Opportunities in The Market/Stock Sell-Off
People are understandably concerned right now about the state of the market and portfolio losses, and what they need to do, right away, in order to ensure that they have basic estate planning steps in place. We have already discussed how important it is to ensure that, at a minimum, you have a will,… Read More »
The Coronavirus Pandemic Makes the Right Estate Planning Essential
The coronavirus has thrown the entire country and globe into a tailspin, with people afraid to go to work, let their children go outside, run errands such as getting groceries, have the kids go to school, etc. Florida is no exception, where the number of positive cases of the virus has grown fivefold during… Read More »
Essential Estate Planning Steps for New Parents
As a new parent, there is much to think about in the midst of all of the excitement, upheaval and changes in your life (not to mention the sleep deprivation). However, it is important to note that making and/or updating an estate plan is an essential step that needs to be taken in order… Read More »
How Does Student Loan Debt Figure into Estate Planning?
For some families, estate planning can be fairly straightforward: A valid will, a trust, health care surrogate, living will, and power of attorney are some of the essential estate planning documents that individuals, couples, and families discuss working on together with our attorneys. Many aging couples simply want to ensure that, once they pass,… Read More »