Things to Consider in Choosing Your Health Care Surrogate and Power of Attorney Agent
Estate planning includes much more than plans for after you die. In fact, many important legal tools that are included in a comprehensive estate plan provide protection for you and your wishes while you are still alive. The health care surrogate and power of attorney documents are two such examples. With a health...
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What You Need to Know About the Proposed For the 99.5 Percent Act
While you might not necessarily think of estate tax is a hot news topic, it has been recently. This has been, in large part due to the “For the 99.5% Act” that Senator Bernie Sanders proposed on March 25, 2021. The sweeping changes in estate planning law that would be made should this...
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What Is the Elective Share?
Have you ever heard of the elective share? While many have not, it can have significant impact on a person’s estate plan. Established in state legislatures across the U.S., elective share laws work to protect the right of a surviving spouse to inherit. Here, we will discuss the elective share in more detail.
What...
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The Pitfalls of DIY Estate Planning
The Do It Yourself, DIY, craze persists in the U.S. People are engaging in DIY home renovations, DIY life hacks, DIY arts and crafts, and so much more. What about DIY estate planning? You may have seen ads for services that will provide you with estate planning forms where all you need to...
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Estate Plan in Place? Where You Should Consider Storing Your Original Documents
Congratulations on checking off a vital task on your to-do list! Estate planning puts legal tools in place that will protect both you and your family. The sense of relief and peace of mind that can come with putting a strong estate plan in place can be great. You may have designed a...
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The Benefits of Charitable Giving in Your Estate Plan
Giving back to causes that are important to you may be a priority. If there are charities whose mission you support, providing them with financial resources to continue pursuing their goals can be fulfilling in so many ways. In addition to bringing you joy and a feeling that you are contributing something bigger than...
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The Relevance of “Domicile” in Estate Planning
Where do you live? It sounds like a simple enough question, but the more you really dive into it with some people, it can get more complicated than anticipated. With many people owning multiple properties in different states, and sometimes even splitting time evenly between them, what is considered to be the permanent residence...
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A Prenuptial Agreement as an Estate Planning Document
Prenuptial agreements, or “prenups,” seem to have developed a bad reputation over the years. Allegations of dooming a marriage or preparing for a divorce before the marriage has even begun have become intertwined with the concept of a prenup. A prenuptial agreement, however, can be an extremely valuable legal tool. While there may be...
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What Is the Portability of the Estate Tax Exemption?
If you have a rather sizeable estate, it can be incredibly important to consider all of your estate planning options as the federal estate tax can take a large chunk of your estate’s value away from your heirs. The federal estate tax exemption will allow you to avoid some taxation as the exemption...
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How Testamentary Capacity Is Determined
Testamentary capacity is essential to making a valid will. In fact, testamentary capacity refers to the mental capability of a person to establish a formal will. For a person drafting a will, referred to as the “testator,” having testamentary capacity is a requirement for the will to be recognized as valid. Without testamentary...
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