There is a bit of chaos and change in the world today. Okay, a lot. And everyone is looking for answers. Whether it is how to lower taxes and keep your hard-earned dollars, find people to work, invest in markets (financial, real estate or otherwise) that appear overpriced, but also feels necessary to fight the…
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End-of-life issues can be a touchy subject for some people. No one wants to talk about the issues before they happen, no one wants to go through them, and…no wants to talk about them after. The result: Very few people know how to navigate end-of-life issues successfully. Most families that go through them suffer in…
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It is inevitable. Change is coming for 2021 and beyond. The problem is no one knows for sure exactly what that change will be. There are several things we have a good hunch will happen, and we will discuss a few key notes. No matter, the big question is how do you plan around a…
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You finally got your Will done. So, your estate plan is complete, right? Well… maybe not. Donna was a widow for many years before she died. She had updated all of her legal documents just a couple of years beforehand. Her goal was to make sure everything went equally to her three kids and to…
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$400,000 and $3.5 Million A few weeks ago, we were working with a family that could have severe estate tax issues in the future. When this risk was first exposed, the immediate response was this: We have until 2026 before anything can be changed, right? Unfortunately, this is a misconception. The tax code can be…
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According to the IRS: Estate Tax is a tax on your right to transfer property at your death. Due to what might be owed at your death, the government realized that estates comprised mostly of small businesses, farms, and ranches could face ruin after the death of the owner. So, in 1997 Section 2032A of the tax code…
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Beyond grief, one reality that loved ones must face when someone passes is the responsibility of dealing with the departed’s estate. This undertaking can be quite cumbersome, especially due to the seemingly “foreign” language of the law. One aspect, the probate process, is public. It is filed in the city or county in which the…
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Will your family have good Christmases and Thanksgivings after you are gone? Most of us would like to think so. We never want to believe our kids would fight over money or possessions. We ask this very question as we go through our Legacy Planning Process. The answer is almost always the same. Yes. Our…
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Bruce Schneier wrote an article in March of 2007 titled Why the Human Brain is a Poor Judge of Risk. Looking back, the timing is fine irony. Had more investors read his article, perhaps they would have lowered their overall risk in the markets prior to the Financial Crisis – which began in August of…
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All of their fame and money may be one thing, but when they die – as we all do – celebrities are not so different from the rest of us. The same estate planning blunders they make are the same ones we see on an every day basis. Here are the top ten lessons to…
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