What Your Estate Planning Attorney Wants You to Think About The Questions Your Attorney Will Ask at the Initial Meeting Who do you want to name as guardian(s) of your minor children? Should the same person(s) handle both fiancial affairs and child rearing? Who do you want to leave your … [Read more...] about Questions from Your Attorney
What is a Bypass Trust and how does it Work?
There is an estate planning tool that may reduce the amount of taxes owed by your estate: the “Bypass Trust” sometimes referred to as a credit shelter trust or A-B Trust. Minimizing estate taxes helps your heirs and beneficiaries to retain more of your assets. Between January 1, 2011 and … [Read more...] about What is a Bypass Trust and how does it Work?
Long Term Care Insurance Issues
The following article by Bradley Brickhouse is courtesy of the Oast & Hook newsletter of November 15, 2011. Recently, the Department of Health and Human Services announced the Community Living Assistance Services and Supports Act ("CLASS Act") was not viable and would not go into effect. The … [Read more...] about Long Term Care Insurance Issues
Estate Planning with Digital Assets
Estate planning is the process of designating who should manage your affairs if you are unable to, and of describing how your worldly goods should be distributed after death. Digital assets, also known as electronic assets, are an increasing part of everyday life, and constitute assets that have to … [Read more...] about Estate Planning with Digital Assets
More on Who Owns Those Frequent Flyer Miles
Following is an article that was in the Wall Street Journal Blog on October 13, 2011: • October 13, 2011, 11:36 AM ET "Think You Own Your Frequent-Flier Miles? Think Again. By Scott McCartney "You “earn’’ your frequent-flier miles through travel or spending. They are held in “your’’ … [Read more...] about More on Who Owns Those Frequent Flyer Miles
Wills in Virginia
A Will is a signed, written document that directs what is to be done with one's worldly goods after death. Each state has its own specific requirements for a valid Will. Here are the requirements for Virginia: The person making the Will (the "Testator") must be mentally competent and at least … [Read more...] about Wills in Virginia
Locating and Obtaining Unclaimed Property
Navigating the Maze of Websites and Sources There are billions of dollars of unclaimed property in the United States. The types of property include stock shares and dividends, assets held by failed banks, benefits from terminated pension plans, income tax refunds, life insurance proceeds, … [Read more...] about Locating and Obtaining Unclaimed Property
Why We Need Powers of Attorney and What Happens When We Don’t Have Them
Some thoughts on preparing for contingencies Estate planning is as much about preparing for lifetime contingencies as it is about managing the distribution of one's worldly goods after death. An important part of contingency planning is authorizing someone to manage your financial affairs if you … [Read more...] about Why We Need Powers of Attorney and What Happens When We Don’t Have Them
Some Thoughts about Pet Trusts
It's not that you look like Leona Hemsley or that your dog looks like Trouble, the Maltese who inherited millions from Helmsley. Pets are considered "chattel" in the US; that is they are personal property. It is possible to plan for the care after the owner's death, and many states have pet … [Read more...] about Some Thoughts about Pet Trusts
Estate Planning Checklist
A checklist to review before meeting an estate planning attorney Do I need to make or update any of the following: Will Financial Power of Attorney Advance Medical Directive (Healthcare Power of Attorney, Living Will and HIPAA Privacy Authorization) Revocable Living Trust (for … [Read more...] about Estate Planning Checklist
