Nobody really likes to think about either death or taxes, but the two are heavily intertwined -- especially since the Tax Cuts and Jobs Act of 2017 went into effect. If you haven't spent some time reviewing your existing estate plans to see what changes should be made to minimize any tax consequences since then, you should.
You may think that because you are in your early 20s with no dependents and few assets that you don't need an estate plan. But all adults should draft a few basic estate planning documents.
Are you ready to write your will? A quick search on Google will lead you to numerous websites where you can find downloadable forms for little or no cost.
Getting married is exciting. There's a lot to talk about -- and a lot to plan. Once you get through picking a wedding venue and deciding where you're going to live, however, you and your future spouse need to talk about one more important thing: your estate plans.
Dividing up your estate between your children seems like it should be easy. After all, you've always tried to treat them equally.
You thought that the sibling rivalry between your children was pretty rough to handle when they were young but thought it would fade. Instead, your adult children have become more deeply entrenched in their rivalry than ever. In fact, they can be downright antagonistic toward each other.
When is it the right time to plan an estate? The question may remind some of the old joke "don't think of an elephant." Obviously, you have to think of an elephant if someone says it. So, if you can ask if you should plan your estate, you probably should.
It's that time of year again: You should review your estate plans to see if they still meet your needs. Estate planning is seldom a "one and done" type of experience. Because life is full of changes and surprises, it's smart to go over your plans every year around this time to make certain that they are complete.
Whether you call it a "health care proxy" or medical power of attorney, taking on the responsibility for someone else's medical treatment can be a daunting task.
You've amassed a few significant assets in your lifetime, but you don't have any direct descendants and no other relatives you care to consider your heirs. So, how do you decide who should be the beneficiary of your estate?