When people think about estate planning, they usually focus on who will receive their money and property when they pass away and how it will be received. However, estate planning can also address your end-of-life wishes—the considerations and expenses involved when it is time to say goodbye to your loved ones. The...
Category: Estate Planning
What Happens to My Twitch Account When I Die?
In the digital age, our online presence extends beyond social media. Platforms like Twitch, where users engage with live-streamed content, present unique considerations when it comes to estate planning. Do you know what happens to a Twitch account after an individual passes away? If you die and a loved one needs to...
Should You Share Your Estate Planning Details With Loved Ones?
When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be a complex and sensitive matter, so your choice may depend on your unique relationships...
Can Artificial Intelligence Programs Write Basic Estate Planning Documents?
With the increased coverage of artificial intelligence (AI) and all of the applications it can have in our everyday lives, some people may wonder whether an AI program can create an estate plan for them. While AI may be able to generate basic estate planning documents, including wills and trusts, there is...
The Life and Legacy of Jimmy Buffett
Jimmy Buffett died on September 1, 2023, at age 76 after a diagnosis of Merkel cell carcinoma (skin cancer) four years earlier. He was a renowned singer-songwriter, film producer, businessman, novelist, and philanthropist.
Buffett released his first album, Down to Earth, in 1970. By 2023, his net worth was...
Estate Plan Lessons from DeMuth v. Commissioner
Lifetime gifts are a popular way to reduce estate and inheritance taxes. Currently, only estates worth $12.92 million or more are subject to the federal estate tax. Twelve states and the District of Columbia levy an additional estate or inheritance tax.
To lower their taxable estate at death, an...
Blindsided: The Michael Oher Conservatorship Controversy Explained
Michael Oher has had a remarkable life so far. Born to a single mother struggling with addiction and growing up in and out of foster care, Oher went on to star as a University of Mississippi football player and was selected in the first round of the 2009 NFL draft. He played...
How the Corporate Transparency Act May Impact Your Estate Plan
Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government including details regarding the ownership of their entity. The CTA was enacted to help combat money laundering, financing of terrorism, tax fraud, and other...
Assembling Your Own (Estate Planning) Team
Some of us may enjoy games like fantasy football that allow us to assemble our own star team with the players we think will provide the most value. While fantasy football is fun to participate in, have you ever given thought to the importance of establishing your own dream team? Just like...
Give Thanks This Year with an Up-to-Date Estate Plan
Your Legacy: How Do You Want to Be Remembered?
As Thomas Campbell, physicist and the author of My Big TOE, once said, “To live in the hearts we leave behind is not to die.” When we lose a loved one, we often have memories of special events and occasions,...