8 Reasons for Revisiting Your Estate Plan?

On September 27, 2017

Revisiting an estate plan every few years isn’t an option for everyone, especially those on a limited budget. But, it’s nearly impossible ignore for those with a lot of wealth, because oftentimes assets and holding get liquidated or restructured. “Because of the way the very wealthy have structured their business interests, especially when different international jurisdictions are involved, means they’re going to consistently need to be tweaking their financial and estate plans. New laws and regulations are always popping up…
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IRS Reveals 2017 Estate and Gift Tax Limits

On December 30, 2016

The Internal Revenue Service (IRS) has announced the federal estate and gift tax limits for 2017, based on inflation. Here’s the breakdown of some of the most significant changes put in place for the coming year: Estate and gift tax exemptions for individuals are set at $5.49 million. Estate and gift tax exemptions for married couples are set at $10.98 million. The annual gift exclusion for 2017 is $14,000. To shed some more light on what these exemptions and exclusions mean –…
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Top 5 Estate Planning Tips for Your Digital Assets

On December 15, 2016

Incorporating digital assets in your estate plan can be an important part of developing a comprehensive estate plan. Here are some helpful tips to get you started thinking about – and properly managing – your digital assets so they aren’t compromised (or forgotten about) in the future: Keep a list of your online accounts – In other words, develop an “inventory” of all of your accounts and assets that are kept (or managed) online. This can include retirement accounts, bank…
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4 Essential Documents to Prevent Estate Planning Errors

On November 30, 2016

When you are ready to put an official estate plan in place to protect yourself and your family in the future, there can be a lot to consider, even if you don’t have a sizable estate or a large family. To help you get started on the right path, the following points out the handful of documents that should form the basis of your estate plan (if you are serious about having a comprehensive, valid estate plan). This can help you…
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Colorado Probate: How to Get Started

On November 16, 2016

Probate can be a complicated process. Knowing what to expect – and what you need to do – at every step of the process, however, can help you avoid common (and possibly costly) mistakes and resolve the probate case as efficiently as possible. To this end, the following points out the important steps to take when you are ready to open up a probate case in Colorado. Although the following information is purposely general (to apply to as many readers as…
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Do I Need an Ethical Will?

On November 4, 2016

As opposed to a traditional will that bequeaths assets to loved ones, an ethical will is a personal statement – not a legal document – that sets forth values or shares stories and experiences. Also commonly referred to as legacy letters, ethical wills can be invaluable for surviving loved ones following a death because these documents can: Provide explanations of why certain decisions were made or why specific actions were taken in the will (and/or as part of the overall…
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How (& When) to Contest a Will: FAQs

On August 31, 2016

While the passing of a loved one can be painful and challenging to deal with, it may be more difficult to bear when you believe that an invalid or outdated will is being used to settle your loved one’s affairs. In these and other situations, contesting the will can be integral to ensuring your loved one’s final wishes are carried out – and that his or her legacy is protected in the right way. Providing deeper insight regarding will contests,…
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6 Hidden Costs of Administering a Will

On August 28, 2016

When it’s time to settle an estate and administer a will, there may be some obvious costs – like court filing fees and estate taxes – that will need to be covered as you proceed. Those, however, may not be the only costs, as there are common other, less obvious costs that can arise in the process. Being aware of what these costs tend to be can help you plan appropriately as you move forward to settle an estate. And…
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How to Cut Costs When Estate Planning: 5 Essential Tips

On August 23, 2016

Important to protecting yourself, your legacy and your family, estate planning can be an involved process. It does not, however, have to be terribly expensive – especially if you take certain steps as you get ready to dive into the process. Revealing more about these steps, the following highlights what you can do to cut costs when developing an estate plan: Get familiar with the basics before diving in – In other words, take some time to understand what the…
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Who Should Be My Trustee?

On August 18, 2016

The answer to this question is important to consider, as your choice in trustees can have significant impacts in the future. For instance, while a good trustee can ensure that assets are distributed according to your wishes (i.e., the terms of the trust), an unethical or untrustworthy trustee may compromise the interests of your beneficiaries, may misuse the assets held by the trust or may make costly mistakes that end up having long-term impacts. So, to help you narrow down…
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