Financial elder abuse commonly goes undetected by loved one. As the elderly continue to age, it becomes easier for individuals to abuse them; so, it’s important to keep an eye on your loved one’s finances. Take a look at the following information, so that you can begin to recognize possible warning signs. If you have any questions, or if you’d like to discuss ways to protect your loved one from financial elder abuse, contact an estate planning attorney. An elderly individual often doesn’t … [Read more...] about Is Your Loved One Suffering from Financial Elder Abuse?
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Where to Turn if you Have Questions Regarding an Inheritance
Estate planning can be a difficult and complex process, not to mention the emotional aspect. However, receiving an inheritance can be almost as difficult as creating an estate plan, as there may be many challenges and questions that come up, and asking questions about an inheritance can be a difficult conversation to start. When you receive an inheritance, you will have to consider the impact on your tax situation. Your inheritance may incur liability for property taxes or increase your own … [Read more...] about Where to Turn if you Have Questions Regarding an Inheritance
Five Trustee Duties
Many clients come to me to create a trust, and in doing so, they must name a trustee, or in the case of a living trust, a successor trustee, to manage the trust. But what exactly are the duties of a trustee? 1. Fiduciary duties: As a trustee, you are acting in a fiduciary capacity, which means you have the legal obligation to act in the best interest of the beneficiary named in the trust documents. Your actions must reflect this. 2. Carry out the trust terms: The trust is your road … [Read more...] about Five Trustee Duties
Pet Planning Is Often Overlooked
When you are engaged in the process of estate planning, you are probably going to have a lot on your mind. Inventorying all of the assets that you have been able to accumulate throughout the entirety of your life can be a chore in itself. And then deciding how you are going to divide them and exactly how you should go about doing it is another challenge. This is why it is advisable to work with an experienced estate planning attorney who has the background that it takes to guide you through the … [Read more...] about Pet Planning Is Often Overlooked
Unified Gift/Estate Tax & Your Estate Plan
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
