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Issue 29.15 Many people have a misconception about estate planning. For example, many will avoid doing their estate planning because they believe their assets “aren’t worth much” and think estate planning would be a waste of time and money. The reality is that estate planning is necessary for everyone — no matter the value of […] Issue 24.15 You just got married— for the second time. While everyone is congratulating you on finding love again, your children are disappointed you did not enter into a Prenuptial Agreement before your marriage. Your new spouse’s children likely share similar concerns. You and your new spouse are adults; you have a verbal […] Issue 14.15 Although a comprehensive estate plan should not require frequent extensive review, we recommend that a periodic review of your estate plan is made to ensure that your plan is still in compliance with the law, and that your personal or financial situation has not changed. The rule of thumb in the industry is […] Issue 9.15 Historically Section 529 of the Internal Revenue Code has applied only to tax savings related to higher education; however, the new Section isthI529A, the ABLE Act, was recently enacted to provide a convenient way to help a loved one with special needs. There are tax advantages for using the 529 Education Savings Plan. […] Issue 4.15 New Year’s Resolutions – just about everybody sets them but not everyone reaches their goal. The key to setting any resolution or goal is to make it specific and attainable. This year, we want to remind you of the importance of keeping your estate plan up to date. Estate planning goals can change […] Issue 50.14 My great-grandfather earned a living raising sheep in Parowan, Utah in the late 1800s. My father was always referred to as the sheepherder-at-law. Dad retired and the sheep business continues with me. Sometimes I wonder why I bought off on this idea of keeping a herd of sheep, especially if I […] Issue 45.14 When someone passes away, you may find yourself in charge of administering the decedent’s estate. You may have been nominated as successor trustee through a Trust, the personal representative (executor) through a Will, or the court may have appointed you to administer the estate. As the trustee, or personal representative, one […] Issue 40.14 Parents often think about transferring assets to their children outright or as joint-tenants during their life. They may believe that the transfer will avoid probate and make it easier for the children upon the parent’s death. Lifetime transfers are sometimes used as an estate planning tool in limited circumstances and may avoid probate; […] Issue 35.14 When people think of how they would like their assets distributed following their death, they usually think of using a Will. However, depending on your assets, a Will may not be the best testamentary document to use. Creating a Revocable Trust provides a number of advantages over a Will. 1. When you transfer […] Issue 30.14 Many people have a misconception about estate planning. For example, many will avoid doing their estate planning because they believe their assets “aren’t worth much” and think estate planning would be a waste of time and money. The reality is that estate planning is necessary for everyone — no matter the value of […] |
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