There has been a lot of speculation about the new Biden tax plan and whether it will be enacted with retroactivity causing the new legislation to take effect on January 1, 2021. The start date matters because high net worth individuals are looking for ways to maximize the federal estate tax exemption allowed under the Trump administration.
A key mistake when it comes to Medicaid, is not carefully planning for your assets, according to the Pauls Valley Daily Democratarticle titled "Misunderstandings create traps in planning."
Comprehensive estate planning includes helping you to name agents in power of attorney documents to step in and manage your affairs in the event you become incapacitated. Often when choosing these agents, different individuals are selected to fill different roles.
What options do you have if you are listed as a beneficiary to a will or trust and you do not want the property offered? You have the right to refuse acceptance for any reason.
Blended families need extra attention during the estate planning process because the inheritance rights of stepchildren are not as clear as those of biological children. One of the biggest mistakes you can make is failing to do any estate planning at all.
Most of us don’t like to think about the possibility of something harmful happening to us or a loved one. Because of this, we rarely think about how to protect ourselves and our loved ones if the worst were to happen.
We often refer to comprehensive estate planning in terms of realizing overall retirement, financial and legacy goals. Estate planning is ultimately about who will eventually control and or receive your property.
When you hear ‘prenuptial agreement’, it may conjure images of family lawyers in anticipation of a contentious divorce. Prenuptial agreements are powerful contracts that also impact estate planning.
Many Maryland residents hold certain beliefs about long-term care that could impede them from proper planning and financing and ultimately undermine their care goals for old age. Let’s take a look at some of these popularly-held beliefs and discuss the facts.
While people and the media often focus on big picture mistakes, it turns out that small errors are the biggest problems in estate plans, according to the Pauls Valley Daily Democrat in "Oversights can cost your heirs money."
