Posts tagged with "estate"



Estate Planning · September 03, 2021
3 Ways To Benefit By Incorporating Charitable Giving Into Your Estate Plan
Giving donations to a charitable cause is a noble act of kindness. And you are also likely well aware that as with donating to charity during your lifetime, dedicating a portion of your estate to a charitable cause can reduce the taxable value of your estate. But it doesn’t end here. You may be surprised to learn about the numerous benefits available when you incorporate charitable giving into your estate plan. Learn more here!
Estate Planning · August 27, 2021
Estate Planning 101: Wills vs. Trusts
Wills and trusts are two of the most commonly used estate planning documents. Both documents are legal vehicles designed to distribute your assets to your loved ones upon your death, but the way in which they work is quite different. To know the best way to determine whether or not your estate plan should include a will, living trust, or some combination of the two, meet a Personal Family Lawyer for a Family Wealth Planning Session.
Estate Planning · August 20, 2021
Legendary Rapper DMX Dies With No Will, Millions In Debt, And 15 Children - Part 2
Although DMX was successful in music and movies, the rap icon experienced serious legal and financial problems. His story proves that regardless of your financial status, planning for your potential incapacity and eventual death is something you should take care of, especially if you have children. The saddest part of this whole situation is that all the conflict, expense, and trauma that DMX’s loved ones are likely to endure could have been prevented with comprehensive estate planning.
Estate Planning · August 13, 2021
Legendary Rapper DMX Dies With No Will, Millions In Debt, And 15 Children - Part 1
Legendary hip hop artist Earl Simmons, known as DMX, passed away at age 50 after suffering a heart attack. Despite selling more than 74 million albums and enjoying a wildly successful career in music and movies, DMX, who died without a will, left behind an estate that some estimates report being millions of dollars in debt. With so much wealth and so many children, his failure to create an estate plan will likely mean his loved ones will be stuck battling each other in court for years to come.
Estate Planning · April 30, 2021
Almost Three Years After Her Death, Aretha Franklin's Poor Estate Planning Continues To Haunt Her Family - Part 1
Nearly three years have passed since Aretha Franklin, known as the “Queen of Soul,” whose earnings are worth $80 million, died from pancreatic cancer at age 76. Yet, due to poor estate planning, her children have yet to see a dime of their inheritance, and what they ultimately receive will be significantly depleted by back taxes. Also, it’s still not clear whether or not Aretha ever had a valid will. Her story shows how destructive poor estate planning can be for the loved ones we leave behind.
Estate Planning · February 26, 2021
Your "Blended" Family Is Likely Headed to Court Unless You Do This
Every state has different terms for what happens when you become incapacitated or die, especially when you have a blended family. One of the most common problems that arises of having a blended family is that the deceased’s children from a prior marriage and the surviving spouse end up in conflict. Unless a comprehensive plan has been created. That way, not only do the people you love get the assets that you want them to receive, but you may also be saving them for years of legal conflict.
Estate Planning · February 19, 2021
Should You (or Your Parents) Be in the Stock Market Now?
With everything that is happening in the world—and with the volatility of the stock market and our current reality —knowing your options is vital to preserving the life and legacy of your parents. If you or your parents have a retirement account, and you're not intimately connected to how your assets are being invested, it's time to get more involved. It's the best thing to do to preserve your family's legacy.
Estate Planning · January 26, 2021
How Do Trusts Help You Save on Taxes?
Setting up a trust is a great way of securing your assets, reduce tax obligations, and define the management of your estate according to your wishes, even if you're wealthy or not. It's the best decision to set up a trust while you still can since it has different types, and each has various tax consequences. Choose what's best for your family so that when the time comes that you're incapacitated, their future will be safe. Learn more to help you weigh decisions and make the right choice.
Estate Planning · January 15, 2021
The Need For a Go-Bag Is Even More Important During a Pandemic
A comprehensive and detailed estate plan would be meaningless if it cannot be accessed quickly during emergencies. That is why, it is convenient to have a go-bag to place in your estate documents and other essentials. This is especially true with the current pandemic filling hospitals to the brim. Unexpected events can occur anytime—you or a loved one could get hospitalized alone. Without immediate access to the plan, important medical decisions might be delayed to your family's detriment.
Estate Planning · January 05, 2021
Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 2
Biden’s proposed Build Back Better plan would require approximately $7 trillion. Such an astounding amount of revenue most likely means a surge in taxes. Biden’s policy front is zeroed in on high-income taxpayers, and yes, that includes corporations and estates. You might want to plan ahead to minimize legal and financial repercussions arising from these proposed changes. From increased business taxes to lowered itemized deductions, here is an outline of Biden’s economic plans.

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