“Generation after generation, people have tended to procrastinate when it comes to estate planning. There is nothing new about this. However, a report from PEW Research Center shows that Millennials may have even less reason to create an estate plan at a young age than previous generations. They are holding off on getting married, buying…

“For years, two major age groups have been affecting how businesses market themselves. On one side you have baby boomers, the generation that defined Madison Avenue–style advertising for 40 years. On the other side are millennials, known for, among other characteristics, disrupting the very models for reaching consumers that their grandparents helped build. In the middle, you have the…

Using a trust can be an important tool in an individual’s estate plan.  A trust is a legal arrangement where a “trustor” or “grantor” transfers property to a person having the fiduciary responsibility to conserve and protect the property.  The person with this fiduciary responsibility is known as the “trustee.” The trustee holds the property…

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the “2017 Act”) which, among other items, made several changes to the federal wealth transfer tax system with respect to transfers occurring during calendar years 2018 through 2025. Background Prior to enactment of the 2017 Act, the first $5 million…

by Jason Harrel Individual Retirement Accounts (IRA) can easily cause some problems in estate planning if not dealt with correctly. Most married individuals name their spouse as the primary beneficiary of their IRA and are often told not to worry about their IRAs in their estate planning because they’ve already designated a beneficiary. This can…

Much as the limited liability company (LLC) took the country by storm in the early 1990s, forever changing the American landscape of corporate governance and small business taxation, a new type of entity is proliferating from state to state: the protective series LLC.  Originally developed in Delaware as a tool for holding different classes of…

by Cory Howes Now is the perfect time to start working on an estate plan—because, as newlyweds, you may not have a list of your accounts, but you’ve effectively just done a working inventory of your possessions—as you’ve figured out how to consolidate two households into one. You’ve already been working on the new banking and…

by Steve Hartnett When a decedent dies, a federal estate tax return (IRS Form 706) is not required to be filed unless the decedent’s gross estate exceeds their remaining federal estate tax exclusion. In 2017, for someone who has not used any exclusion during life, this would be $5.49 million. However, this does not mean filing…

If you’ve searched in the probate collections and skipped over a result for a guardianship because you know one of the parents was still alive, you should go back and look at that record. Guardianship is an often-misunderstood concept in probate. What Guardianship Is and Is Not Guardianship is when the court appoints someone to represent the…

Privacy is a main concern for many clients when it comes to estate planning.  One benefit of creating a Living Trust, as opposed to simply drafting a Will, is the opportunity to keep your assets and your plans as private as you want them to be.  If keeping your estate plan private is something you…

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