When you are planning your estate, one of the first things to take into consideration is your exposure to the estate tax. Many people who are just beginning to delve into the subject are taken aback when they hear the details. Right now, the top rate of the estate tax is 35%. If that sounds like a lot, consider the fact that it was 45% in 2009, before the one-year repeal in 2010. And, if no new legislation is passed in the meantime, the maximum rate of the estate tax is scheduled to go up to … [Read more...] about Unified Gift/Estate Tax & Your Estate Plan
Estate Planning
QPRT Can Provide Solution
There are some people who hear about the topic of estate planning and question what there is to plan about. How hard can it be to decide who I want to leave my assets to and then simply leave behind directions that make this happen? The answer is that transferring the assets may not be the most challenging part of the equation. The trick is to do so without losing anything in the process, and there are some significant sources of asset erosion that exist. You want to make sure that you maximize … [Read more...] about QPRT Can Provide Solution
Basic Estate Planning Primer
There are a lot of people who know they should have an estate plan in place who procrastinate because they're not sure of how to go about it. There are others who feel as though they do not have very complex estates so there's no real reason to do any specific planning. The reality is that everyone should have an estate plan in place, even if it is just a basic one. With this in mind, we would like to take a look at the basic components of a simple estate plan. You do indeed need to execute a … [Read more...] about Basic Estate Planning Primer
Late Singer Winehouse Had Solid Estate Plan
The entertainment industry was dealt a blow last month when the British singer Amy Winehouse was found dead in her posh North London home. It is always sad when anyone passes away, but when someone young dies before his or her time it is especially heartbreaking. Winehouse was just 27 years of age at the time of her death, but her accomplishments were considerable. Her 2006 Back to Black album made a huge splash, and she earned six Grammy nominations for her work on the record, winning five of … [Read more...] about Late Singer Winehouse Had Solid Estate Plan
Avoid These 3 Estate Planning Disasters
When handling estate planning affairs, or by putting off the need to plan, many people make errors. These errors can create 3 disasters in the future. It’s important to work carefully throughout the planning process, so that you’re always prepared. Take a look at the following information to better understand estate planning disasters that you will likely want to avoid. If you have any questions, or if you’d like to begin your estate planning, contact an estate planning … [Read more...] about Avoid These 3 Estate Planning Disasters
Legacy Wealth Planning Workshops
Legacy Wealth Planning Workshops are scheduled for September in Webster on 9/20 at 10 AM and 7 PM and in Victor on 9/21 at 10 AM. The workshop is FREE, but reservations are required. Please call us at (585) 374-5210 or online at www.mrobinsonlaw.com. THE BEST THINGS IN LIFE AREN'T THINGS. We couldn't agree more. In this revealing workshop, we will show how traditional estate planning has been failing American families. The aftermath of these "bare bones" estate plans has been the loss of … [Read more...] about Legacy Wealth Planning Workshops
Estate Planning for Parents with Adult Children
When children are young, estate planning for parents normally focuses on providing for their upbringing. After they grow up, parents normally want to continue providing for them in their estate plans, but the focus tends to shift a bit. If you have more than one child, and you plan for them to inherit your estate, you may wonder how to divide your assets. To help decide how to divide your estate, consider these issues: Are you comfortable distributing property to your children outright? If … [Read more...] about Estate Planning for Parents with Adult Children
All Aspects of Your Estate Plan Should Be Updated
Once you create your estate plan, it’s important to make sure that it’s frequently updated, in order to meet your current needs. Many people completely forget about the need to update their planning. This may mean that their current wishes are not respected, or it may create problems in the future. Take a look at the information below, to better understand updating. If you have any questions, or if you’d like to update your estate plan, contact an estate planning attorney. Take a look, … [Read more...] about All Aspects of Your Estate Plan Should Be Updated
Advantages and Disadvantages to Creating a Revocable Living Trust
Many people consider creating a revocable living trust when handling their estate planning affairs. Before creating this trust, it’s important to understand both the advantages and disadvantages. We’ve taken the time to outline these points, below. If you have any questions, or if you’d like to create a revocable living trust, meet with an estate planning attorney to discuss your needs. A revocable living trust can have its advantages… You’re able to have full control over the trust during … [Read more...] about Advantages and Disadvantages to Creating a Revocable Living Trust
8 Things to Consider When Creating Your Estate Plan
When creating your estate plan, it’s important to make sure that you have the best plan possible. This will allow you to be prepared for all of life’s many misadventures. If you’re new to planning, you may have a lot of questions and concerns about the process. We’ve taken the time to list 8 important things to consider when handling your estate plan. To have the best plan possible, it’s recommended that you work with an experienced estate planning attorney. Remember to review your … [Read more...] about 8 Things to Consider When Creating Your Estate Plan
