Why Everyone Should Have an Estate Plan
Do you have a will? A durable power of attorney? A health care proxy? If not, why not? Failure to create an estate plan risks causing discord in your family for generations to come.
Court Case Illustrates the Danger of Using an Online Power of Attorney Form
A recent court case involving a power of attorney demonstrates the problem with using online estate planning forms instead of hiring an attorney who can make sure your documents are tailored to your needs.
Younger Adults Now More Likely to Have a Will, According to Survey
A new survey has found that motivated in part by the coronavirus pandemic, younger adults are now more likely to have a will than middle-aged adults. Nevertheless, the overall percentage of Americans with a will has dropped over the past several years.
What Is the Generation-Skipping Transfer Tax?
The estate tax gets all the press, but if you are leaving property to a grandchild, there is an additional tax you should know about. The generation-skipping transfer tax affects property passed to a grandchild in a will or trust.
How an Irrevocable Life Insurance Trust Can Be Used to Avoid or Reduce the Estate Tax
With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust could be the answer.
Charge Against Mother Highlights Value of Adding an Extra Layer of Protection to a Special Needs Trust
A recent felony charge against the mother of a special needs child in Minnesota offers a good reason why professional oversight of a special needs trust may be a good idea.
‘Like a Dickens Novel’: States Are Grabbing Foster Children’s Social Security Benefits
At least 36 states and the District of Columbia are diverting federal benefits like Supplemental Security Income (SSI) or Social Security survivors’ benefits owed to children in foster care.
COVID-19 Relief Bill Makes ACA Even More Affordable, If Only Temporarily
The American Rescue Plan, signed into law by President Biden, makes health coverage bought through the Affordable Care Act (ACA) vastly more affordable for millions of Americans, at least for two years.
Bill Would Allow All Military Retirees to Name Special Needs Trusts as Beneficiaries of Pension Plans
A bipartisan bill fixes a flaw in earlier legislation and would finally allow any veteran to allocate pension payments to a trust for their survivors with special needs.
Internet is the Answer for Successful Social Distancing
Now especially, it is crucial to be prepared if you or someone in your family gets so sick they can’t make decisions about health care or finances. Banks, insurance companies, and medical providers will not listen to what another person…