Estate Tips

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Estate Planning Documents: Things you should know!
Regardless of the size of your estate, everyone needs to plan ahead with estate planning documents. Estate planning documents include wills, revocable trusts, powers of attorney, living wills, and durable powers of attorney for health care.

Irrevocable Insurance Trusts - Send your Kids a Crummey Letter
People who have revocable living trusts understand the unified credit shelter. The trust provisions allow a couple to pass up to $1.2 million of property free from federal estate and gift taxes. But what if the estate is worth more than $1.2 million?

Do you have a Will? Should it be updated?
Everyone should have a Will, regardless of the size of their estate. In your Will, you can name the beneficiaries of your estate. Without a Will, your property passes according to State laws that might not be consistent with your intent. Your Will names the person you would like to administer your estate, your executor (or executrix). Without a Will, the probate court will appoint someone, possible someone you might not prefer.

Advance Directives
Advance directives are estate planning tools that can provide instructions for certain lifetime contingencies.