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Category: Beneficiaries

estate planning services

Charitable Planning with Retirement Accounts

Charitable planning is an important element for many estate plans – whether your primary purpose is minimizing the estate tax burden for your loved ones or whether charitable giving is a lifetime habit that you wish to continue, retirement assets can be a wise choice of assets for those who are looking to leave a […]

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Should-You-Consider-an-Irrevocable-Life-Insurance-Trust-ILIT

Should You Consider an Irrevocable Life Insurance Trust (ILIT)?

Life insurance is often one of the first investments people consider when they begin estate planning. The right policy can help cover certain expenses for your beneficiaries after you pass. However, choosing the right life insurance policy for you and your family can be a difficult and confusing process. Policies vary widely in their terms. […]

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Families-with-Children-with-Special-Needs

Estate Planning Tools for Families with Children with Special Needs

Parents and guardians of children with special needs are keenly aware that they must take extra precautions to ensure that their child will continue to live happy, healthy, and fulfilling lives after the parent or guardian passes away. To imagine a child with special needs carrying on without their current support system can be difficult […]

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Understanding-Grantor-Retained-Annuity-Trusts-GRATs

Understanding Grantor Retained Annuity Trusts (GRATs)

Grantor Retained Annuity Trusts, or GRATs as they are commonly known, are a powerful tax-saving tool used by estate planners to shift assets with significant potential appreciation to beneficiaries without utilizing their lifetime gift tax exemption. When creating a GRAT, your assets are placed within an irrevocable trust which expires after a set period while […]

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How-to-Have-a-Conversation-With-Your-Family-About-Your-Wishes-for-After-You-Pass

How to Have a Conversation With Your Family About Your Wishes for After You Pass

For most of us, planning for life after death is not the standard topic for Sunday night dinner. Aside from the emotional weight of these conversations, finding the appropriate time and place to gather and discuss matters of funeral planning and inheritance can be a logistical concern for many families. However, delaying these discussions can […]

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Best-Practices-for-Irrevocable-Trusts-1

Best Practices for Irrevocable Trusts

Sometimes, we are approached by prospective clients who wish to make changes to their irrevocable trusts—unaware that under current law, these trusts cannot be easily amended. In fact, modifying the agreements of an irrevocable trust, unless under very specific conditions, is a violation of state and/or federal law. As the current administration seeks to increase […]

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When-Should-You-Include-an-Estate-Planning-Attorney-in-the-Sale-of-Your-Business-1

When Should You Include an Estate Planning Attorney in the Sale of Your Business?

We are often approached by clients who are in the process of selling their business. While we love to offer legal advice and recommendations regarding the sale, it is imperative that we are contacted before or during the negotiation stages. Once the letter of intent (“LOI”) is drafted, any guidance an estate planning attorney could […]

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Estate Planning 101 Education Funding for Children and Grandchildren

Estate Planning 101: Education Funding for Children and Grandchildren

In 2021, the average tuition for four-year public colleges increased by 1%, and 2% for private colleges. These price increases reflect a trend that has been growing for years. Many parents and grandparents dream of the opportunities which higher education can provide for their children and grandchildren. However, the nightmare of massive student debt is […]

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Demystifying Estate Planning Here’s What the Process Actually Entails

Demystifying Estate Planning: Here’s What the Process Actually Entails

As estates and trusts attorneys, we often hear similar questions and misconceptions about what the estate planning process actually entails. Prospects and new clients will ask questions like, “Do I have enough assets to qualify for an estate?” Or “I thought estate planning was something only the ultra-wealthy do.” And the most common of the […]

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