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The only constant in estate planning is change. Your plan administrator or financial advisor can help you understand how such changes may impact your plan. What This Means for Your Estate Plans There has never been a better time to make additional gifts in Update Your Estate Plans Now Making sense of estate planning laws often requires professional help.

But that isn’t so, says CNBC in the recent article “Don’t make these celebrities’ estate-planning blunders Signing a will is just the beginning: you need to regularly update your estate planning documents and Mistake #3: No Tax Plan. Poor planning could force your heirs to sell valuable or sentimental items because there are insufficient People forget about personal property in their estate planning, which can trigger lots of fights over

But after investing and saving with one of these plans for the last 30 years, as retirement nears you MarketWatch, in its recent article, “IRAs are for retirement planning, not for retirement,” suggests If you’re between the ages of 59 and 70½, you are at the perfect spot to start an IRA Exit Plan. Talk with a qualified estate planning attorney when designating your primary, contingent, and tertiary This inability to change ownership of your IRA can lead to gaps in planning for Medicaid and Veteran

Consider the following estate planning factors to ensure that does not happen: Gift Tax Exclusion Many Business Succession Plans Succession planning has become all the rage in the wake of HBO’s hit show “ The Best Business Plans Include Estate Plans You have worked hard to build your business. Take time to ensure its longevity by creating an estate plan. To ensure your estate plans are in line with your goals regarding gift tax, digital assets, and business

Understanding Estate Planning in Texas Estate planning is a process that involves making plans for the Trusts: Privacy, Protection, and Tax Benefits Trusts are another important component of estate planning Understanding probate and estate taxes is crucial in estate planning. estate planning attorney. Finding the Right Estate Planning Attorney in Texas Choosing the right estate planning attorney is crucial

Marriage offers many legal and financial protections, so if you’re planning to live together without You also need to talk about which one of you will claim tax-deductible expenses, such as mortgage interest and property taxes. Prepare Your Estate Planning. Also, if you have significant net worth which would make you liable for federal estate tax, you should

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. An ideal estate plan should be designed to avoid probate, save on estate taxes, protect assets from future

planning. implications in estate planning with the federal estate tax. Remember, you should consider the tax implications when planning the transfer of assets in your 401(k Capital gains, death and income taxes all come into play when planning for the transfer of wealth from Comprehensive estate planning always includes a discussion of these tax implications and ways to avoid

There are often misconceptions about estate planning that you should know when preparing your documents Estate planning serves to provide your family and loved ones with protection upon your passing, regardless How Does Dementia Affect Estate Planning? Dementia may affect estate planning, as the person suffering from this illness loses the ability to think Speak With an Attorney About Options for Estate Planning There are many myths about estate planning out

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 Estate planning can help you minimize your tax liability and maximize what you leave behind for your Steps to Take When Estate Planning for Young Families Now that you understand why estate planning is

Too often, though, banks inadvertently throw the most carefully laid estate plans out of alignment. Here’s how to be mindful of possible planning pitfalls: Transfer-On-Death Accounts Over the last few That’s because transfer-on-death accounts pass outside of traditional estate planning. can help you with your family’s estate plans and probate needs. Whether you are looking to craft estate plans for the first time, need help updating existing plans,

In order to create a comprehensive estate plan, it helps to be familiar with your state’s laws and regulations The Lone Star State presents a number of unique challenges when it comes to estate planning. While only an experienced estate planning attorney can give you specific advice about Texas’s laws, it Dynasty Trusts The perks of a dynasty trust for long-term wealth planning are significant. thorough estate plans.