Tag: estate planning

Another Super Star Dies Intestate: What happens now?

This is not the first time it happens and, sadly, it continues to happen. Prince, as did Elvis Presley, died intestate – without an Estate Plan. There was no Will or Trust drafted. The consequences? Well, the answer would be court battles, family disunity,…

Revocable Trust vs. Irrevocable Trust: Which Is Best for You?

Trusts  allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when, and how. While there…

How to Avoid Sending Your Loved Ones (and Assets) through Probate

Today many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes guardianship (due to incapacity) or probate…

Nosey Neighbor Nellie Can Find Out About Your Probate. Really!

Most people think of probate as a private process. However, since Wills are filed at the courthouse, probated estates become a matter of public record. That means your nosey neighbor Nellie can simply go down to the courthouse or hop online and find out…

Trust Planning? What are my options?

Creating an estate plan that works can seem daunting.  However, that’s what we, as estate planning attorneys, do every day. We know the laws and know how to design the right plan that works for the needs of the individual client and the client’s…

Early Predictions About 2016 Estate Tax, Gift Tax, GST Tax and Annual Gift Tax Limits

Under current law the federal estate tax, gift tax, and generation-skipping transfer tax exemptions have become unified and are indexed for inflation on an annual basis.  Since 2011, the exemption and tax rate have changed as follows: Year    Exemption       Tax Rate 2011    $5,000,000      35%…