Questions around death planning can feel overwhelming: Cremation or burial or natural organic reduction? What will your family want, and what will it cost? Do you really need to think about all this if you’re young and healthy right now—or can you put off these decisions until you’re older or dealing with a life-threatening illness?
In today’s digital era, the departed will be survived by their electronic footprints, such as iPhone photo albums, Spotify playlists—and cryptocurrency wallets.
A competent elder law or estate attorney can discuss and use, where appropriate, such provisions as the family exemption, benefits to prepaying inheritance tax, even where the tax return is not yet complete and a listing of itemized deductions.
Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning.
Adult children typically don’t have to pay their parents’ bills. However, there are exceptions. Even when a child doesn’t have to pay directly, debt could reduce what they inherit.
You have many options to make sure your wishes are followed after you die.
A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries and it can significantly reduce the headaches of probate.
For most people, entering the realm of estate planning can feel a bit like traveling as a tourist into another culture. Because the language itself is unfamiliar, asking a question can result in an answer that is equally confusing.
Administration of a decedent’s estate may involve investment accounts (with stocks and bonds) held in the decedent’s name or trust.
Executors can use additional information in administering estates, especially if the executor is unrelated to the decedent.
