Category Archives: asset planning
3 Problems when Administering a Trust
Many people make a trust an integral part of their estate plan. Trusts can offer many advantages, including the ability to pass assets outside probate. However, someone needs to administer the trust. Many people serve as the initial trustee, but after their deaths someone must take over, often a family member or a close… Read More »
The Importance Of Estate Planning For Unmarried Couples
Many couples never marry. They might even be together for years or decades but have never gotten around to saying “I do” or don’t feel that marriage is that important to begin with. However, as we age, we soon find out that marriage carries many important legal benefits. If you choose not to marry,… Read More »
Do You Own Stocks? Leave Them To Heirs In Your Will For Tax Savings
Estate planning is complicated, particularly thinking through the tax consequences of leaving property to your heirs. Fortunately, few estates will need to pay federal estate taxes, and Florida does not have an inheritance tax. Nevertheless, leaving stocks and other assets to people in your will can reap significant tax advantages. Capital Gains Tax When… Read More »
The Dangers Of A Do-It-Yourself Estate Plan
Many seniors like the independence of doing things themselves and enjoy saving money in the process. However, your estate plan is definitely one area where you need a professional’s help, even if it costs a little bit of money to get it. Below are some of the landmines you can step on if you… Read More »
Four Common Estate Tax Planning Trusts In Florida
Even though the Sunshine State does not have an estate tax and federal lawmakers recently raised the IRS threshold, taxes are still a concern in many estate planning scenarios. The estate tax is not the only issue facing The Villages residents as they prepare their estate plans. Certain kinds of property, most notably rent… Read More »
How To Divide Your Estate Fairly Between Your Children
When writing a will or trust, many people are worried about showing favoritism to one or more of their children. Instead, they want to divide their estate fairly so that each child feels appreciated. Nevertheless, sometimes dividing an estate fairly between your children is complicated. In that situation, you are advised to meet with… Read More »
Contingent Beneficiaries
Insurance policies provide a good opportunity for a person to leave some money to his heirs after death. Unlike other bequests, life insurance proceeds are paid directly to the named beneficiaries without going through probate. This means that the beneficiaries can receive the life insurance proceeds faster and tax free. In designating a life… Read More »
Designing An Estate Plan For Your Art Collection
Estate planning for a person who owns a large collection of art can be a process of balancing an emotional need to preserve the collection with the financial reality of the cost to the beneficiaries to keep the collection intact. If a person has spent a lifetime creating a collection, having to come up… Read More »
How Guaranteed Are Pensions?
In most cases, pensions are better for employees than most company offered 401K plans. Today most pension plans in private companies have been phased out in favor of the 401K plans, and fewer employees have what was traditionally considered a guaranteed pension. For those receiving pensions, there may be a feeling that their pension… Read More »
