Tip! Young people just starting out in life may think that estate planning is not a high priority. However, according to a leading expert in the field, it’s never too early to consider how vital this step is to prudent financial planning.
One of the biggest areas of dispute in estate planning is with second marriages. Here is a question I received. I’ve changed the facts around so that I am not giving specific legal advice.
Phil,
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Second Marriages – Estate Planning Concerns (Estate planning attorneys)
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January 20th, 2008
Tip! An essential feature of this preparation is the planning of one’s estate. Estate planning is foremost judicious step in securing your family’s future and also to fulfill your desires after you depart from the world.
Do you know what happens if you die without a will? The courts will decide who will raise your children, manage your assets, inherit your possessions, and administer your estate. Heirs must usually agree on a court appointed administrator. If some of the heirs are mentally incapacitated, or under age, it gets unbelievably complicated. Add in children and spouses from previous marriages and it can become a seething pot of turmoil for your family.
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Reasons for (Estate planning disabilities) Estate Planning
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January 19th, 2008
Tip! There are several ways in which estate planning can be done. For instance you can make wills (living wills are even helpful within your lifetime), plan your funeral arrangements, life insurance and other directives.
An estate plan can be designed by clients and their professional advisors to achieve the client’s personal and financial objectives. Or, it can be an arrangement imposed upon survivors by state intestate succession laws if someone dies with
Tags: retirement and estate planning, estate planning for singles, estate planning certification courses, southern illinois estate planning, free estate planning, lilley estate planning
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January 18th, 2008
Tip! If you own real estate it is critical that you take care of it with carefully crafted estate planning early on. This can help you to anticipate economic changes without being hit with severe economic impacts later on.
Estate planning can enable you to control your property while you are alive, take care of you and your loved ones if you become disabled, and give what you have to whom you want, the way you want, and when you want, and if you wish, you can save every last tax dollar, professional fee, and court cost possible.
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Estate Planning (Good reads on estate planning)
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January 17th, 2008
Tip! Whether you want just a simple will or a will, codicils, and trusts, the time to plan the disposal of your estate is now. It is a mistake to delay your estate planning in this uncertain world.
You have probably accomplished a great deal with your life. Over the years you have worked, planned and saved. Perhaps you have even made some sacrifices to achieve your current level of success. It’s a sure bet that you will want to pass along your accumulated assets rather than hand them over for court costs, taxes or attorney fees.
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Your Estate Planning (Estate planning tenancy by entireties) Basics
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January 16th, 2008
Tip! Even, if you learn that your estate is not likely to be subject to federal estate taxes, estate planning is a wise choice to be assured that your wishes are carried out just the way you want them after you are gone and that your wishes are carried out in a professional manner for all those involved.
According to Plan-My-Estate.com – With a Revocable Living Trust, you transfer the title of any of your assets (such as a house) from yourself as an individual, to yourself as Trustee of the Trust. Then you, as the Trustee of the Trust, manage the assets of the Trust for the benefit of the beneficiary, which is you. In this manner, you keep complete control over the assets. Once you pass on, a Successor Trustee takes over the management of the asssets for the benefit of the beneficiaries that you named in your Trust. Your assets do not have to pass through Probate because the assets are no longer titled in your name as an individual, but are now titled in the name of the trust. Upon your death, the Successor Trustee simply transfers your assets directly to your beneficiaries without the need for court or attorney’s fees or costs.
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Estate planning law – Estate Planning And The Revocable Living Trust
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January 14th, 2008
Tip! The good news is that there are ways to not only reduce your estate tax liability in the future, but to minimize income and capital gains taxes now. Estate planning can help uncover opportunities to preserve your legacy for loved ones, not the government.
Greek philosopher Heraclitus had remarked that
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January 13th, 2008
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