Most people associate Estate Planning with the elderly or very wealthy. This article explores situations in which Estate Planning for the young and healthy is advisable. Read on to learn more.
Evolution of our Unified Estate and Gift Tax System
Many individuals think that if their estate is below a certain amount that they need not be concerned with Estate Planning. Is that true? Well, in true lawyer fashion, the answer is “it depends” We found this helpful article over at the AAEPA that may provide some guidance: read on to learn more.
Evolution of our Unified Estate and Gift Tax SystemRead More
Application of the Updated Life Expectancy Tables
Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue Service. The Internal Revenue Service recently updated those tables which will significantly impact certain taxpayers
What is Cryptocurrency?
Cryptocurrency has become increasingly popular as a form of investment in recent years. More and more established financial institutions recognize cryptocurrency and allow its use. As cryptocurrency becomes mainstream, it’s important to consider estate planning implications for holding this digital asset. Read on to learn more.
Life Insurance and Estate Planning – Now What?
Life insurance is an important component of estate planning. After all, we know it can be a useful tool for providing financial protection for loved ones in the event of the policyholder’s death. Unfortunately, both Regina and I– the attorneys here at the Slaton Schauer Law Firm, PLLC– have spoken with many people who purchased …
Planning for Incapacity and Long-Term Care – A Short Guide
At the Slaton Schauer Law Firm, PLLC, we believe in solid planning for considerations of incapacity and potential long-term care needs. These issues become increasingly important as people age. How we can plan for these issues? Let’s start with definitions. What do we actually mean by “incapacity?” In the estate planning context, someone’s “capacity” refers …
Planning for Incapacity and Long-Term Care – A Short GuideRead More
Estate Tax Planning – 4 Tools to Minimize Your Liability
You’ve probably heard of “estate tax,” but how much do you know about it? What is the estate tax? How can it affect you? In this article, we’ll give you a quick overview of estate tax. Estate taxes are, broadly speaking, taxes imposed on the transfer of assets from a deceased person to their beneficiaries. …
Estate Tax Planning – 4 Tools to Minimize Your LiabilityRead More
What is Probate? How do I Avoid it?
Probate is the legal process by which a court validates a deceased person’s will and oversees the distribution of their assets to their beneficiaries. At the Slaton Schauer Law Firm, PLLC, we know that this process can be time-consuming and costly in financial terms. Even worse, it puts a deceased person’s family through emotional distress. …