Just as spending a day under the summer sun without proper protection can leave you with a painful sunburn, an unfinished or out-of-date estate plan can inflict harm on you and your loved ones. In this newsletter, we explore the importance of creating a comprehensive estate plan to protect your legacy and...
Category: Generational Planning
Estate Planning for a Single Parent with a Minor Child
You have a minor child who depends on you for their survival, so you need to make sure that they will be cared for if you are ever unable to care for them. By creating an estate plan, you can address your minor child’s care and custody and provide instructions about how...
Estate Planning and the Modern Family
As the name suggests, ABC’s TV show Modern Family depicts the relationships and experiences between a fictional extended family. Throughout the course of the series, the show addresses many issues that families deal with each day. For a close-knit family such as this fictional one, estate planning is crucial to ensure that...
Generation-Skipping Transfer Tax
When it comes to federal taxes, most people are very aware of the federal income tax because, if they earn a paycheck, they cannot help but notice the deductions each pay period. But there are lesser-known taxes such as the capital gains tax (a form of income tax), the estate tax, the...
When Using Assisted Reproductive Technology, What Happens to Unused Genetic Material at Your Death?
When you think about how you want your property to be distributed after your death, most of the time it is easy to identify that property—your home, your cars, your jewelry, etc. But what about the genetic material used in assisted reproductive technology, such as frozen sperm, eggs, and embryos? Is genetic...
An Estate Planning Checklist to Facilitate Wealth Transfer
Studies have shown that 70% of family wealth is lost by the end of the second generation and 90% by the end of the third.
Help your loved ones avoid becoming one of these statistics. You need to educate and update your heirs about your wealth transfer goals and the plan you have...