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Showing 5 posts tagged wills.
Divorced? It’s Time to Update Your Estate Plan
Most people create their estate plans while they are married—leaving all of their assets to the surviving spouse and putting the surviving spouse in charge of their affairs upon death or incapacity. However, if you’ve recently gotten divorced and haven’t touched your estate plan since, an update is long overdue. More >
Your Estate Plan Needs a Back-Up Plan
Because few people want to think about the circumstances where their estate plan would come into play, even fewer think about the consequences if their estate plan may not be able to be carried out as they wished. This most frequently occurs in the event that designated individuals are unable to perform the duties allotted to them. Here are a few of the roles for which you should designate a back-up in your estate plan—and what could happen if you don’t. More >
When Virtual is Valuable: Planning for Your Digital Assets
Even in our technology-centric world, people’s estate plans often only account for “traditional” assets, like a car, checking account, house, etc., for example. More and more, however, an individual owns digital assets as well. With this in mind, a reasonable person would then ask: how do you build a strategy for your legacy that ensures your “virtual”—but still very real—assets are also protected? More >
Don’t Delay—Proposed Changes to Estate Tax Law Aim to Eliminate Step-Up in Basis
If you’ve been waiting for the “right time” to start planning your estate, don’t wait any longer—the right time may be in the rearview before you know it. With a new administration in the White House, tax reform is on the agenda in Washington, and the proposed changes would have a major effect on many estates, especially for high-net-worth individuals. More >
I'm an Executor or Administrator of an Estate...Now What?
As an estate planning attorney, I often receive calls from individuals who have just been designated as a personal representative and are wondering what they are legally required to do. Personal representatives may either be named an Executor (Executrix if the individual is female) or an Administrator (Administratrix if female). An Executor is the person whom a decedent named in his or her Will to be in charge of the administration of his or her estate. An Administrator is the person appointed by the court to be in charge of the estate when someone dies without a Last Will and Testament. More >
