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The only constant in estate planning is change. that the lifetime tax exclusion for gifts will rise to $12,060,000, as will the generation-skipping transfer plan. Bear in mind that in an IRA transfer or conversion to a Roth IRA, you will be required to pay taxes on Update Your Estate Plans Now Making sense of estate planning laws often requires professional help.

A Forbes article, “Wealth Planning For Couples: How to Wisely Merge Your Financial Plans,” says that While planning your wedding, you and your partner should discuss several serious topics and consult with an estate planning attorney. Even if a couple doesn’t combine all their assets, they should mesh their financial plans to avoid future Reference: Forbes (November 27, 2015) “Wealth Planning For Couples: How To Wisely Merge Your Financial

to be accessible to fiduciaries – you will want to spell out precisely how and when NFTs should be transferred and legislation surrounding the transfer of digital assets. Business Succession Plans Succession planning has become all the rage in the wake of HBO’s hit show “ They outline how ownership should be transferred, whether employees should be hired, fired, or promoted The Best Business Plans Include Estate Plans You have worked hard to build your business.

Financial planning issues, however, can vary according to age. financial planning guide for different stages of life and the transitions faced along the way. When it comes to financial planning, millennials — who are now 20-35 years old — have time on their side Also, estate planning means not only having a basic will but also making certain you have a health care Plan on at least 15% of income to be set aside for retirement—25% would be better.

ThinkAdvisor’s article, “New Estate Planning Strategies for a Post-Portability World,” says that there may be many folks who’ve continued to rely upon their outdated, pre-2013 estate plans. Reviewing a pre-2013 estate plan may be really beneficial for higher-income individuals. Regardless, consult a qualified estate planning attorney to help you select the most appropriate strategy Reference : ThinkAdvisor (June 7, 2016) “New Estate Planning Strategies for a Post-Portability World”

multiple sources of income, it is essential to ensure that everything is in order so you can protect your wealth your specific circumstances and determine the best strategies to protect and manage your wealth. Benefits of High-Net-Worth Estate Planning Estate planning offers several benefits to individuals with You can use trusts, LLCs, and other entities to shield your wealth and ensure it is passed on to your By employing specific estate planning tools, you can ensure your wealth is used according to your wishes

That is a staggering statistic, even for me as a Houston estate planning lawyer that works with sick “the person is unable to perform at least two activities of daily living such as eating, toileting, transferring Everyone needs estate planning, but for the chronically ill there is a high sense of urgency. For healthy people, a will or trust plans for the “what if?” When you have a chronic illness, you are planning for the “here and now.” 

What is Estate Planning? Estate planning also involves planning for your children’s care and making sure that your wishes are Estate planning can help you: Protect your children — Estate planning allows you to appoint guardians Steps to Take When Estate Planning for Young Families Now that you understand why estate planning is Trusts are legal structures that allow you to transfer your assets to a trustee who manages them for

In an ideal world, people would be as excited about estate planning when they turn 18 as they are about The reality is very few young adults take the time to craft even the most basic estate plan. Why does an 18 year old need an estate plan? Most people don’t think about estate planning until they have children or reach retirement age. What does a typical 18 year old’s estate plan look like?

Understanding Estate Planning in Texas Estate planning is a process that involves making plans for the transfer of your estate during incapacity and after your death. estate planning attorney. Finding the Right Estate Planning Attorney in Texas Choosing the right estate planning attorney is crucial With careful planning and the help of a skilled estate planning attorney, you can navigate the complexities

There are many misconceptions about estate planning and implementing any of them into your estate plan Understanding who needs an estate plan and what it should cover is key to creating a plan that is right The following are some common myths that people have about estate planning: Estate Planning Myth 1: “ may not need a complicated plan. Estate Planning Myth 2: “I’m Too Young for an Estate Plan” No one likes to think about death, but it

succession Trusts Probate Elder law Guardianship Medicaid planning Special needs planning Long-term Your Houston Estate Plan Might Need a Trust Trusts form a vast portion of estate planning. You may not know that a will’s property transfer is subject to the state’s probate court. Including Medicaid Planning in Your Houston Estate Plan Making plans for your final days is arguably Expand Your Estate Plan With a Houston Estate Planning Attorney We offer complete estate planning services