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Estate Planning

Epic Fails- DIY Deeds

I am sure most, if not all of you have heard of the phrase, “I have enough knowledge about a topic to be dangerous.” This was the case with Joe Johnson. He and his spouse hired an attorney to assist with drafting and executing his estate plan. At the end of the consultation, when it… Continue reading Epic Fails- DIY Deeds

Estate Planning

BASIS STEP UP 101

Property (real or otherwise) inherited by family or friends is not considered to be taxable by the federal government. The ability to be taxed on a piece of property that is inherited can be a big concern and point of confusion for many people.  The lesser known IRS “gift” Basis Step Up, also known as… Continue reading BASIS STEP UP 101

Estate Planning

TOP 5 ACTION ITEMS FOR FAMILIES WITH MINOR CHILDREN

A Family Protection Planner’s Tips on Dealing with the Certainty of Death “Estate planning is for old people.” • “Estate planning is for the wealthy.” • “I’m not going to die young.” We’ve all said those words or heard them said before. These are misconceptions or justifications that we use to put off thinking about… Continue reading TOP 5 ACTION ITEMS FOR FAMILIES WITH MINOR CHILDREN

Estate Planning

Turning 18 brings big changes for young adults and their parents

How to be legally prepared for the new laws that affect you An 18th birthday opens new doors for minors and presents the independence of a fresh adulthood for children. Recognized as a young adult by almost every state in the union, these minors are finally legally able to vote, enter into contracts and make… Continue reading Turning 18 brings big changes for young adults and their parents

Estate Planning

Retirement- Things to Consider Beyond Savings

When a business owner thinks about retirement, he typically settles on one of two plans- sell the business or gift to his children. The choice between the two are usually very personal and will coincide with the goals of the business owner. For each option, there are different considerations, and necessitates the implementation of a… Continue reading Retirement- Things to Consider Beyond Savings

Estate Planning

Estate Planning & the Fiscal Cliff: What to expect if Congress and the White House do not reach a compromise.

Estate Planning & the Fiscal Cliff: What to expect if Congress and the White House do not reach a compromise. If you have been avidly following the fiscal cliff conversation between Congress and the White House, you will have realized that it is quite probable, even possible, that there will be no action taken to… Continue reading Estate Planning & the Fiscal Cliff: What to expect if Congress and the White House do not reach a compromise.