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Tag: Heirs

How Much Should We Tell the Children about the Estate Plan?

Written by Kevin Quinn on . Posted in Beneficiary Designations, Estate Planning, Funeral Planning, Guardian, Health Care Directives, Inheritance, Power of Attorney, Settlement, Trusts, Wills.

“Even those with thorough estate plans might have neglected to discuss details with potential heirs.”...

Adult Children, Advance Directive, Beneficiary Designations, Estate Planning Attorney, Healthcare Power of attorney, Heirs, Inheritance, Intestate, Living Will, Power of Attorney

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Trusts Make Sense Even When You Aren’t a Billionaire

Written by Kevin Quinn on . Posted in Asset Protection, Estate Planning, IRA Planning, Life Insurance, Medicaid, Pet Trusts, Tax Planning, Trusts.

“Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate...

Alzheimer’s, Charitable Trust, Elder Financial Abuse, Estate Planning Attorney, Federal Exemption, Grantor, Heirs, Irrevocable, Probate, Revocable Trust, Special Needs Trust, Stepchildren, Trustee

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There Is a Difference between Probate and Trust Administration

Written by Kevin Quinn on . Posted in Asset Protection, Beneficiary Designations, Current Affairs, Elder Law, Estate Planning, LCPC, LGBT, Miscellaneous, Probate, Settlement, Tax Planning, Trusts, Wills.

“Probate and trust administration are not the same. There are important differences and similarities between...

Alzheimer’s, Beneficiaries, Competency, Estate Planning Attorney, Heirs, Last Will and Testament, Probate, Trust Administration, Trustees

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How Does a Spendthrift Trust Protect Heirs from Themselves?

Written by Kevin Quinn on . Posted in Asset Protection, Beneficiary Designations, Current Affairs, Estate Planning, Giving, Inheritance, LCPC, LGBT, Life Insurance, Miscellaneous, Probate, Tax Planning, Trusts, Wills.

“What steps can be put into place to ensure an adult child, who makes poor decisions, will be secure after the death...

Estate Planning, Heirs, Incentive Trust, Life Insurance, Probate, Spendthrift, Testamentary, Trusts, Will

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Does Your Estate Plan Need a Will or a Trust—Or Both?

Written by Kevin Quinn on . Posted in Asset Protection, Beneficiary Designations, Business Succession Planning, Current Affairs, Estate Planning, Funeral Planning, Giving, Inheritance, IRA Planning, LCPC, LGBT, Miscellaneous, Retirement Planning, Special Needs Planning, Tax Planning, Trusts, Wills.

“One of the most fundamental choices you can make as you’re thinking about how to pass your assets on to heirs, is...

Assets, Beneficiary, Coronavirus, Estate Planning Attorney, Heirs, Irrevocable, Probate, Revocable Trust, Successor Trustee, Will

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How a Letter to Your Executor Conveys Your Wishes

Written by Kevin Quinn on . Posted in Asset Protection, Beneficiary Designations, Current Affairs, Estate Planning, Inheritance, IRA Planning, LCPC, LGBT, Miscellaneous, Power of Attorney, Retirement Planning, Special Needs Planning, Tax Planning, Trusts, Wills.

“Many people draft personal notes to their loved ones and their successors. However, few take the time to pen a...

Asset Protection, Estate Planning Attorney, Executor, Heirs, Tax, Trusts, Wealth Transfer

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If Not Now, When? It is the Time for Estate Planning

Written by Kevin Quinn on . Posted in Asset Protection, Beneficiary Designations, Business Succession Planning, Charitable Giving, Current Affairs, Estate Planning, Health Care Directives, Inheritance, IRA Planning, LCPC, LGBT, Miscellaneous, Power of Attorney, Retirement Planning, Tax Planning, Trusts, Wills.

“Estate planning attorneys are getting mobbed with questions. Here is some timely advice from three attorneys on...

Beneficiaries, Coronavirus, Distribution of Assets, Durable Power of Attorney, Estate Planning Lawyer, Health Care Directive, Heirs, Intestate Succession, Plan

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Charitable Giving and Your Estate Plan

Written by Kevin Quinn on . Posted in Asset Protection, Beneficiary Designations, Business Succession Planning, Charitable Giving, Current Affairs, Estate Planning, Giving, LCPC, LGBT, Miscellaneous, Special Needs Planning, Tax Planning, Trusts, Wills.

“Giving appreciated stock shares, donating your RMDs and using charitable remainder trusts are just a few of the...

Appreciated Stock Shares, Charitable Giving, Charitable Remainder Trusts, Charities, Estate Planning Attorney, Gifts, Heirs, RMDs, Split Interest Trust

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Loss of Stretch IRA is Not Such a Big Deal

Written by Legacy Counsellors P.C. on . Posted in Beneficiary Designations, Current Affairs, Estate Planning, IRA, IRA Planning, LCPC, LGBT, Miscellaneous, Retirement Planning, Tax Planning, Trusts, Wills.

“The stretch IRA is dead and everyone (including me) is writing about how this is the apocalypse for IRA planning....

Beneficiaries, Estate Planning Attorney, Grandchildren, Heirs, Kiddie Tax, Required Minimum Distributions, Roth, SECURE Act, Spousal Heir, Stretch IRA

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How Bad Can a Do-It-Yourself Estate Plan Be? Very!

Written by Legacy Counsellors P.C. on . Posted in Asset Protection, Beneficiary Designations, Charitable Giving, Current Affairs, Estate Planning, Inheritance, LCPC, LGBT, Miscellaneous, Power of Attorney, Retirement Planning, Tax Planning, Trusts, Wills.

“One Justice from the Florida Supreme Court commented that the expensive litigation far outweighed any savings...

Beneficiaries, Estate Planning Lawyer, Heirs, Litigation, Wills

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Alternatives for Stretch IRA Strategies

Written by Legacy Counsellors P.C. on . Posted in Beneficiary Designations, Charitable Giving, Current Affairs, Estate Planning, IRA, IRA Planning, LCPC, LGBT, Life Insurance, Miscellaneous, Retirement Planning, Tax Planning, Trusts, Wills.

“The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing...

Beneficiaries, Charitable Remainder Unitrust, Distributions, Fixed Annuity, Heirs, Life Insurance, Roth Conversion, Roth IRA, SECURE Act, Stretch IRA

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Avoiding Probate with a Trust

Written by Legacy Counsellors P.C. on . Posted in Asset Protection, Beneficiary Designations, Business Succession Planning, Charitable Giving, Current Affairs, Elder Law, Estate Planning, Funeral Planning, Inheritance, IRA, IRA Planning, LCPC, Miscellaneous, Pet Trusts, Retirement Planning, Tax Planning, Trusts, Wills.

“In other words, family members who are not named to inherit anything in the will may still see the list of all of...

Beneficiaries, Estate Plan, Estate Planning Lawyer, Heirs, Irrevocable, Pet Trust, Probate, Revocable, Special Needs Trust, Trust

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Five Estate Planning Mistakes to Avoid

Written by Legacy Counsellors P.C. on . Posted in Asset Protection, Beneficiary Designations, Current Affairs, Estate Planning, Health Care Directives, Inheritance, LCPC, Miscellaneous, Power of Attorney, Trusts, Wills.

“Five of the most common mistakes are easy to avoid with the right information and support, as well as a little...

Alzheimer’s, Assets, Beneficiaries, Dementia, Estate Planning, Health Care Proxy, Heirs, Power of Attorney, Sole Trustee, Trusts

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