Planning for Your Baby’s Future in Estate Planning

On June 12, 2018

In all the chaos of buying new clothes, constantly changing diapers, and, of course, seemingly sleepless nights for months on end, as a new parent the last thing on your radar is probably creating a will or planning your estate. But, if you don’t already have an estate plan, then that’s exactly the time to do it. Because, think of the ramifications should you or your spouse (or both of you) encounter an unthinkable accident that takes one of your…
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How to Factor in Life Insurance into Estate Planning

On April 25, 2018

A very important tool to utilize in estate planning is life insurance. Your benefactors can use it to manage some of the taxes due on your estate, pay creditors off, or just take advantage of the income in the event your income is no longer accessible. In this discussion we’ll look at a few different ways life insurance can be utilized and some errors that some people make on their own when planning their estates. Paying Off Estate Tax One…
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Estate Planning Tools for Your Baby’s College

On November 21, 2017

Remember when your baby was just an infant and you thought he/or she would break like dropped china or porcelain? And then you saw them run right into a glass door and bounce off like a rubber ball and bounce back for more. It was probably back then that you first gave some forethought into getting yourself an insurance policy for their benefit or even an estate plan, in case something accidentally happened to you. But, like many well-laid plans,…
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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 holdings 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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