Category Archives: Estate Planning
Why Setting Up a Grantor Retained Annuity Trust During COVID-19 Could Significantly Maximize Assets You Pass onto Beneficiaries
There is no question that although COVID-19 has brought a tremendous amount of devastation and panic to our country and economy, there are, at the same time, some unique opportunities that it has introduced into estate planning that have to do with instruments that have been put in place precisely to benefit from growing… Read More »
What Is at Risk If Your Will Is Panic-Written During the Coronavirus Pandemic
The current pandemic understandably has many people panicked such that they want to make sure everything is in order with their estate plan. However, it is extremely important that, as a result of the pandemic, you do not rush into drafting or updating your estate planning documents, especially when it comes to writing your… Read More »
The HEMS Distribution Standard: Administering Trusts During a Recession
When the economy goes through a downturn, as is occurring now during the coronavirus pandemic, where a number of people have lost their jobs, expenses are increasing, and some are also experiencing expensive health crises, trustees are often under more pressure to distribute assets under what is known as the “HEMS” standard, which is… Read More »
If You Own a Second Home, Make Sure You Plan for It in Your Estate Plan Now
More than seven million Americans have second (or vacation) homes, and many are now concerned that, as a result of the coronavirus bailouts, they could face an increase in estate taxes in the next few years. For this reason, planning for these assets is a very important part of your estate planning process, and… Read More »
Current Estate Planning Opportunities in The Market/Stock Sell-Off
People are understandably concerned right now about the state of the market and portfolio losses, and what they need to do, right away, in order to ensure that they have basic estate planning steps in place. We have already discussed how important it is to ensure that, at a minimum, you have a will,… Read More »
The Coronavirus Pandemic Makes the Right Estate Planning Essential
The coronavirus has thrown the entire country and globe into a tailspin, with people afraid to go to work, let their children go outside, run errands such as getting groceries, have the kids go to school, etc. Florida is no exception, where the number of positive cases of the virus has grown fivefold during… Read More »
Essential Estate Planning Steps for New Parents
As a new parent, there is much to think about in the midst of all of the excitement, upheaval and changes in your life (not to mention the sleep deprivation). However, it is important to note that making and/or updating an estate plan is an essential step that needs to be taken in order… Read More »
How Does Student Loan Debt Figure into Estate Planning?
For some families, estate planning can be fairly straightforward: A valid will, a trust, health care surrogate, living will, and power of attorney are some of the essential estate planning documents that individuals, couples, and families discuss working on together with our attorneys. Many aging couples simply want to ensure that, once they pass,… Read More »
The Rising Rate of Gray Divorces After Age 50 Are Complicating Estate Planning Issues
We’ve discussed how to use assets such as life insurance to strategically plan your estate after your divorce, however rising divorce rates amongst Americans after the age of 50 (known as a “gray divorce”) can cause a number of conflicts when it comes to estate planning, especially when it comes to family strife and… Read More »
The Most Important Estate-Related Mistakes to Avoid When It Comes to Probate
After you pass, your will must be legitimized through the probate process, whereby the judge reviews the estate inventory, confirms who is administering it, and validates that it is in fact the last will of the deceased. Until this process is complete (which typically takes between six months and three years), it is not… Read More »