A Modest Social Security Increase for 2021
The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s.
The Hazards of Do-it-Yourself Estate Planning
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although these products are convenient, using them could create serious and expensive legal problems for heirs.
Don’t Forget to Fund Your Revocable Trust
Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.
Thirteen Estate Planning Terms You Need to Know
Estate planning—it is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you…
Wealth Transfer Strategies in an Election Year
With a push by the Democratic party to return federal estate taxes to their historic norms, taxpayers need to act now before Congress passes legislation that could adversely impact their estates. Currently, the federal estate and gift tax exemption is set at $11.58 million per taxpayer. Assets included in a decedent’s estate that exceed the…
The Ins and Outs of Guardianship and Conservatorship
Every adult is assumed to be capable of making his or her own decisions unless a court determines otherwise. If an adult becomes incapable of making responsible decisions, then the court will appoint a substitute decision maker.
Nursing Home Residents Face Even Greater Barriers to Voting Amid Coronavirus Pandemic
The coronavirus pandemic has forced nursing homes to place a number of restrictions on their residents. These constraints are having the unintended consequence of making it more difficult for nursing home residents to vote.
Single? You Still Need an Estate Plan
Many people incorrectly believe that if they are single, they don’t need a will or other estate planning documents.
How to Divide Personal Possessions Without Dividing the Family
Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear.
When Should You Update Your Estate Plan?
Once you’ve created an estate plan, it is important to keep it up to date. You will need to revisit your plan after certain key life events.