I often meet with people who wish to avoid probate. Probate is a public court proceeding required to transfer a person’s assets at death. Probate can be lengthy and expensive. All assets owned in individual name (or jointly without survivorship) can only transfer to your loved ones through probate. Ways to avoid probate include …
If you are the Grantor or Owner/Trustee of a Trust Owned Life Insurance (TOLI) policy, chances are that you have not reviewed your trust or the insurance policies owned by the trust on a periodic basis to make sure to make sure that the insurance policy is not at risk. …
Filing a gift tax return for an Irrevocable Life Insurance Trust (ILIT), even if not technically required because all gifts are below the annual exclusion, is a good idea. Benefits: Filing starts the statute of limitations running on the IRS to audit the gift. Filing allows you to decide affirmatively …
From time to time, it’s good to review why having a complete, up-to-date set of estate planning documents is so important. A holistic estate plan not only confirms your own desired goals, it can provide valuable insights to your friends and family of the values you believe make the world …
Your Living Will is your statement of your wishes on whether to pull the plug if you are in an end-of-life situation. While the form does not appoint anyone to make decisions for you, you can allow your Health Care Agent under your Health Care Power of Attorney to “override” …