How Do I Pay For Estate and Inheritance Taxes Parts One and Two
David M Frees III answers the questions: When are death taxes due? and How do I pay for death taxes?
Excutors and Trustees
Avoiding Will Contests – How To Prepare For The Worst
Have you thought about disinheriting a child or grandchild? Do you intent to “write” an heir out of your will who might expect an inheritance? Are you leaving one child more than another child? Do you children have radically different needs and you are considering an unequal distribution or gift to your children? If you …
Create Trusts For Children In Your Wills
I have had a recent addition to the family, my son, James Douglas Kaune. Welcome to our lives James!! Taking my own advice, my wife and I immediately updated our estate planning documents including wills, powers of attorney and trusts. We also modified our beneficiary designation forms in IRA’s, 401k’s and life insurance to name the testamentary trust for …
Flat Fees For Lawyers – Executors Want to Know the Cost of Probate
If you are an executor of a Pennsylvania estate, read this artcile before you hire counsel. The one thing that families, beneficiaries and executors all want is to minimize the costs of probate and even administering a trust or estate not subject to probate. Most firms still charge according to fee guidelines, or on an …
529 Plans – Want To Know How The Obamas Are Saving For College For The Kids?
With the cost of 4 year college educations continuing to soar and, to out pace inflation, many of us are wondering how to save for our children. There are a variety of tools ranging from multiple 529 plans to UTMA accounts, to trusts, and outright savings in the parent’s own names. But, if you want to …
Documents In Order Can Mean Savings Of Time, Fees and Can Eliminate Trouble
Completing your Enhanced Estate Plan(TM) our proprietary process (often consisting of a Will, Power of Attorney, Advanced Medical Directive and one or more Trusts), is often viewed as the end of the process. But, smart clients and estate and asset protection planners know that there is still a bit more to do. I can hear …
"Legacy Locker" Protecting Your Online Passwords and Accounts for Your Beneficiaries
Many of us have multiple email address, online bank and stock accounts and conduct social and business activity through sites such as LinkedIn and Facebook. I also have a significant number of clients who have business related websites that are responsible for generating a great deal of revenue. We do not necessarily want to make …
Senate Votes On A budget Bill to Exempt More Estates – Will It Hold?
While this is only a budget bill, and only in the Senate, there was some movement on estate tax reform today. If this type of bill were to ultimately pass the house and senate it would allow many more couples, and individuals to do estate and asset protection planning for their heirs without some of …
IRA Trusts, Providing Extra Creditor and Asset Protection
IRA’s and other tax deferred retirement plans can now be left to trusts for your beneficiaries instead of directly to the beneficiaries. These IRA Trusts are broadly categorized as either conduit trusts or accumulation trusts. These trusts must be written with care in order to insure that not only are the assets protected from the …
The Top Mistakes of PA Executors and How To Avoid Them
I recently completed a great new report entitled “The Top Ten Mistakes Executors Make and How To Avoid Them.” This report is great for people who are or will be serving as executors of Pennsylvania estates for the obvious reason that it will help you to avoid personal liability. And, the report is also …