POST DIVORCE CHECKLIST

3 ITEMS YOU MUST DO POST-DIVORCE People often describe their wedding day as one of the happiest of their lives. However, sometimes happily-ever-after doesn’t last as long as it should and the day comes when dissolution papers are signed, assets dissolved, and households are split. This process of divorce can be emotionally draining, and people…

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…

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…

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…

Pitfalls of DIY Estate Planning

There is no doubt that everyone loves a bargain when organizing their estate and giving instructions on the distribution of their worldly goods after death. Yes, you can write your wishes on a piece of paper or you can fill out some quick online forms and have either witnessed as a last will and testament…

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…

Estate Planning and New Tax Bill

Estate planning goes beyond estate taxes and to the heart of protecting what's most important to you; your family's legacy, their goals and dreams.

Trust or Will?

  You've heard of the words "trust" or "will" and probably wondered what they are, and which would fit your situation. Keep reading  for some helpful information.  A trust is a contract between the owner of assets (the trustor) and the receiver of those assets (the trustee) to hold and administer those assets on behalf…

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…

Why Plan Your Estate?

More times than I care to count, I hear this statement from people; “I don’t have anything so I don’t need to do any estate planning right now.” This is a major misconception about estate planning and it permeates not only through the young community but also with seniors as well. Below, I will outline…