10/01/15 | WealthCounsel Quarterly | Jeremiah H. Barlow, JD Understanding basis and how it applies in estate planning is one of the foundational concepts of the post-ATRA era. Prior to the enactment of the American Taxpayer Relief Act (ATRA) in 2013, the primary goal in estate planning was to leverage transfers in order to reduce […]
Read More »Wills, Trusts & Dying Intestate: How They Differ
Most people understand that having some sort of an estate plan is a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either.
Read More »Eminent Domain
The power of the federal and state government to take private property for a public purpose, even if the property owner objects, is known as eminent domain. The Fifth Amendment to the United States Constitution allows the government to take private property if the taking is for a public use and the owner is “justly […]
Read More »Financial Smarts Peak at 50, Here’s How to Protect Your Older Self
Financial Smarts Peak at 50, Here’s How to Protect Your Older Self
Read More »What Documents Do You Need to Find After a Loved One Dies?
After a loved one dies, you need to gather the important documents that are necessary to settle their final affairs. While the documents required will vary depending on what your loved one owned and owed, below is a list of common documents you will need to find:
Read More »The Shocking Truth About Asset Protection Planning
Some view asset protection planning with a skeptical eye. They believe there is a moral obligation to pay one’s debts. They think that asset protection planning is immoral because it prevents a creditor from collecting on a judgment entered by a court.
Read More »Aging.gov: A New Resource for Older Americans and Their Families
More than 10,000 people turn 65 in the U.S. every day according to Aging.gov (http://www.hhs.gov/aging/), a new website recently launched by the Obama administration. The goal of this website is to act as gateway for older Americans and their families, friends and caregivers to locate information about leading a healthy lifestyle, options for health care, […]
Read More »Is a Revocable Living Trust Right for You?
Revocable Living Trusts have become the basic building block of estate plans for people of all ages, personal backgrounds, and financial situations. But for some, a Revocable Living Trust may not be necessary to achieve their estate planning goals or may even be detrimental to achieving those goals. What Are the Advantages of a Revocable […]
Read More »Is a Payable on Death Account Right for You and Your Family?
Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. What is a POD Account?
Read More »4 Tips for Avoiding a Will or Trust Contest
A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest.
Read More »