Category: Estate Planning
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5 Benefits of Asset Protection Planning
In this blog post, we’ll cover five key benefits of asset protection planning so that you can make an informed decision about if it is right for you.
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Estate Taxes: Who Pays? And How Much?
The estate tax is the tax levied on the assets inherited by the rightful heir(s) after the original owner’s demise. While there are some ways to reduce these taxes, you may be liable to pay estate taxes if your assets fall under the total values set by the governing organizations. There are two types of…
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How Often Should You Meet with Your Estate Planning Attorney?
Making plans for your future is not a one-and-done endeavor. An estate planning attorney offers you invaluable advice on matters associated with your future planning. They help you address the key issues related to transferring your assets and providing support to the people you love after your demise. Thus, you should consider meeting with your…
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7 Considerations for Asset Protection Planning
Saving your valuable assets and wealth is critical to ensure the best preparation for the unforeseen future. However, you should also focus on developing a robust strategy to safeguard your accumulated wealth. Moreover, preserving your assets requires you to make sound investments or keep your funds tucked away in several domestic accounts. Thus, asset protection…
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Why to Establish a Guardianship
Establishing a Guardianship for Minors can be a Vital Part of any Estate Plan It’s important not to confuse guardianship with being a caretaker. In this article we are referring to guardianship for the care of minors before they reach 18 years of age as well as situations where an adult may be mentally incapacitated. …
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Charitable Giving in your Estate Plan
When Preparing your Estate Plan, Beneficiaries Do Not Have to be Limited to Friends and Family. Estate planning is not a one-size-fits-all approach to asset distribution. Every individual has unique life experiences, and those experiences can create different ideas. For some, charitable giving is a great option to include in their estate plan. Charitable giving…
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Second Marriage and My Estate Plan
What Happens to Your Estate Plan when You have a Non-Traditional Family? A second marriage can create a variety of challenges and opportunities for your estate plan. If you have married for a second time, don’t forget to review your estate plan, including your will, any trusts, and living will with your estate planning attorney.…
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Time To Review Your Will
When to Review Your Will? A big reason why estate planning attorneys encourage you to create your estate plan early is to plan for the present knowing that you have the ability to adapt that existing plan to address new information like a marriage, a new child, or the gaining of new assets. Once created,…
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What If My Designated Executor Cannot Serve?
What If My Designated Executor Cannot Serve? First, a definition: A designated executor refers to the individual you have selected who is therefore charged with the responsibility of finalizing your estate. Those responsibilities can include collecting all the person’s assets, settling any outstanding debts, and distributing the assets according to the wishes and directions specified…
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How Can I Make Sure My Son-In-Law Does Not Inherit?
How Can I Make Sure My Son-In-Law Does Not Inherit? Just to be clear, we’re not talking about disinheriting an individual here. Any Johnstown estate planning attorney will tell you a person cannot be disinherited unless they’ve already been named as a beneficiary in your will. So you don’t have to worry about disinheriting anyone,…