Your Clients’ Legacies: How Do They Want to Be Remembered? As trusted advisors, we often discuss with our clients all aspects of the future, whether it be their financial future, the future support of their loved ones, or what the future will look like when they are no longer a part of it. As [...]
How Much Authority Does a Trustee Have Over the Stuff in My Trust? Exploring the Trustee’s Powers in Asset Liquidity & Management A trustee is a person or entity responsible for managing and administering your trust according to your instructions and by state law. They are considered fiduciary (meaning they are held to a [...]
The Life & Legacy Of Jimmy Buffett The Legacy Of Jimmy Buffett: Estate Planning, Philanthropy & Business Continuity Jimmy Buffett died on September 1, 2023, at age 76 after a diagnosis of Merkel cell carcinoma (skin cancer) four years earlier. He was a renowned singer-songwriter, film producer, businessman, novelist, and philanthropist. Buffett released his [...]
Estate Plan Lessons From DeMuth v. Commissioner The Costly Mistake In DeMuth v. Commissioner & Estate Planning Lessons Learned Lifetime gifts are a popular way to reduce estate and inheritance taxes. Currently, only estates worth $12.92 million or more are subject to the federal estate tax. Twelve states and the District of Columbia levy [...]
How the Corporate Transparency Act May Impact your Business or Estate Plan CTA Compliance Requirements & Exemptions For LLCs & Family Limited Partnerships Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government including details regarding [...]
What Do I Do If I Want to Undo My Revoked Will? How Do You Undertake the Process of Bringing Back a Revoked Will? When life circumstances change, you may alter the decisions you have made in your estate planning documents. You might choose to revoke your will at some point. But what if [...]
What Happens to My Leased Car If I Die Before the Lease Term Ends? Navigating Vehicle Lease Contracts and Estate Implications After a Lessee's Death After a house, a car is often the second-most valuable piece of property a person owns. About 15–20 percent of new vehicles are leased rather than purchased and financed. [...]
Including Noncitizens In Your Estate Planning How To Prevent Legal Issues When Involving A Non-Citizen In Your Estate Plan With our society becoming increasingly mobile and international travel becoming more affordable than ever before, families and family-like relationships have steadily grown far more diverse in terms of citizenship. It is no longer uncommon for [...]
Limited Impact of Estrangement on Estate Planning Balancing Legal Rights & Personal Choices In Estranged Family Estates Unfortunately, rifts sometimes arise between family members that are much more serious than just temporary squabbles. The result may be estrangement, defined as “the state of being alienated or separated in feeling or affection; a state of [...]
How Business Executives Can Set & Meet Their Estate Planning Goals The Essential Estate Planning Strategies For Business Executives As a business executive, you are used to strategizing and creating goals as part of your job. But have you devoted time to strategizing and creating goals to protect yourself and your loved ones? If [...]
