While estate planning can be emotionally taxing, since you must consider a time after your own passing, it is important to be proactive, both for yourself and for loved ones.
Estate planning is a key piece of a comprehensive retirement plan.
Here are the top five mistakes people make that upend their planning.
Many people are under the impression that since they have a trust, they don’t need to do anything else. That’s not true. The trust you created years ago may not be appropriate for you now.
Trusts can provide certain benefits for estate planning, including asset protection. But can you sue a trust?
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one of two exemptions applies.
Have you thought about how you’d like your family to continue after you’re gone? Having an estate plan isn’t just for the ultra-wealthy.
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.
As parents of children with special needs age, they should revisit the decisions they made—sometimes many years ago—regarding guardianship, beneficiarie, and other aspects of their child’s care.
Louisiana Forced heirship has not been repealed. It can be a pitfall for the unwary who may think it only applies to children under the age of 24. A good estate planning attorney should be consulted if you have litigious children.
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