Category Archives for Estate Planning
What You Should Know When an Executor Sells a House
You could have been named Executor in a Will or you could be a prospective buyer of what has been a family residence. From the perspective of an Executor/Executrix, selling the family house can be one of the most significant and one of the most demanding jobs associated with settling his/her parent’s estate. Arranging for […]
Continue readingDo You Really Want To Handle Probating An Estate On Your Own?
You might have a job or just have retired and you learn suddenly that your Great Aunt Lucy died and named you Executor of her Will. How hard could it be you ask to resolve an estate by yourself without professional advice or a competent professional beside you? You might decide to strike out on […]
Continue readingYour Estate Plan Does Not End With a Will
Last year I began the New Year with a column reminding readers that a Will is not the same as an Estate Plan. The thought was important enough – and still is – that I thought it worthwhile to repeat and add to it. When you chose to write a Will you have taken an […]
Continue readingLife Insurance Can Fill In Holes In Your Estate Plan
A recent article in the “AARP Bulletin,” titled “7 Things to Know About Term Life Insurance,” Tamara E. Holmes, October, 2023, brought to mind several ways in which life insurance, in this case term life insurance, can, among other things, plug up holes in an estate plan. Term life insurance, as the name implies, runs […]
Continue readingHow Much Should An Executor Be Paid for Administering An Estate
It is a good idea to settle the matter of your will at some point. It helps the family during a very difficult time, and is a good way to plan for the future carefully and with the benefit of time. With the help of a Will Planning Lawyer, these matters can be fully established […]
Continue readingYes. You Inherited a House – Now What?
If your parents left you their house in their Will and you are now the proud owner of a family residence you might consider yourself blessed or the event could act as a cause for concern or rethinking of your future plans. Will you live there? Have you resided there all along and do you […]
Continue readingReasons Why a Will Is Not Enough For An Estate Plan
With the beginning of the new year many readers may be looking to redraft their Wills executed years ago or starting out to review their estate plans generally. Having attended several programs over time and drafted many estate plans I know the emphasis has almost always been on explaining Wills. Today it is most often […]
Continue readingDoes A Life Estate Make Sense For An Estate Plan
Life estates have received some attention recently as a way to resolve partial ownership of a property. Like any other estate planning tool it needs to be considered in light of the objectives of the parties involved. A life estate is a form of joint ownership that allows one person to remain in the house […]
Continue readingEstate Planning Is Not Just Tax Planning
As April 15 approaches following massive changes in the tax laws with the Tax Cuts and Jobs Act, one consistent thought follows. Over the years as the tax code changes both for estates and individuals and corporations, proper planning considers not just taxes but the ultimate goals of the taxpayer whoever that taxpayer might be. […]
Continue readingWhy Revocable or Irrevocable Trusts for Estate Planning
In dealing with Medicaid structuring and estate planning, I am often asked whether a trust could be the answer. Trusts are not an easy subject to understand. Even with right answers, changes in laws, regulations and Court decisions could change the answer. Here are some ideas. Revocable (Living) Trusts. A revocable trust can be changed […]
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