Estate Planning

Everyone knows the statistics – almost 50% of marriages in the United States end in divorce. Second and third marriages fail at an even higher rate. Our clients are rightly concerned about passing down wealth to their children that may end up in the hands of an ex-husband or wife. Some clients’ initial thoughts are […]

Mental illness refers to a wide range of conditions that affect an individual’s mood, thinking, and behavior. These conditions can affect a person’s ability to function in daily life and can vary in severity from mild to severe. It can be temporary, episodic and life-long. To ensure that your loved one suffering from a mental […]

When the SECURE Act passed in 2019, the biggest impact on estate planning was the elimination of the “lifetime stretch” for most beneficiaries of individual retirement plans (IRAs).  Before the SECURE Act, a beneficiary of an IRA had the option to take distributions over their own life expectancy. This allowed families to pass down tax […]

We use the phrase “estate plan” dozens of times every day. It is useful for us attorneys because it describes a group of documents. Unfortunately, estate planning sounds much fancier than it is. Sometimes an estate plan is a simple Will, advance directives, and a power of attorney.  Sometimes people ask whether they even need […]

There is a long running joke about lawyers never giving straight answers. We prefer to give clients definitive answers but when clients ask us whether to add a child as a joint account holder, we always say, “it depends.” Adding your child as a co-owner on your bank account can be positive or negative depending […]

There is much discourse about estate planning for married couples, but what about seniors who are widowed or have never married? Single people often have more complicated estates – especially if they do not have close natural heir such as a spouse or child. Moreover, maintaining independence requires having Advance Directives in place to plan […]

For the charitably inclined, there is always a question of how to be most efficiently leave money to charities in your estate plan. Charitable giving ranges from simple small monetary amounts to more complicated charitable trusts. No matter the option, there are potential income tax and estate tax implications to consider. Specific Bequests to Charities […]