Category - Estate Planning

Biggest threat to your estate could be those closest to you (CNBC article)

June 15, 2018

Family conflicts could be the biggest problem with your estate plan.  Contrary to popular belief, this is more likely if you fall into the less-than-wealthy category.  Fewer assets to go around often results in more strife among heirs. Tax considerations (estate tax mostly) have traditionally dominated the focus of estate planning.  Today, with the current […]

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How to choose the right estate planning attorney (thebalance.com article)

June 4, 2018

Since there is no shortage of attorneys, you need the correct approach in choosing your estate planning attorney. Expertise, experience and a good fit (both ways) are important considerations when someone is trying to determine who to retain for estate planning legal work.  A recent online article titled “How to Interview a Prospective Estate Planning […]

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Most U.S. Adults Have Done Zero Estate Planning, New Survey Reveals (Huffington Post article)

May 29, 2018

“…if you don’t have a will, the state has one for you…”  The majority of American adults have done nothing when it comes to estate planning.  Why?  Well, there are many reasons, to be sure.  And the reasons vary person to person.  This Huffington Post article discusses some of the most common themes as to […]

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What you don’t know about estate planning will cost you (CNBC.com article)

April 28, 2018

The old saying, what you don’t know CAN hurt you is applicable here. Ted Snow is the author of a helpful online article appearing yesterday on CNBC.com wherein he covers some important estate planning concepts.  Of course, Mr. Snow changes the “can hurt you” to “will cost you” and perhaps in this context that subtle […]

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deadly estate planning mistakes (Forbes article)

April 24, 2018

One can learn much about writing catchy headlines from websites like Forbes and CNBC.com.  Similar to the CNBC article mentioned the last post, last week, Bob Carlson posted “Avoiding 7 Deadly Estate Planning Mistakes” on Forbes.com.  Let’s be real, the mistakes referenced by Mr. Carlson in his article are not really going to be deadly […]

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Utah Law Can Prevent Trust Litigation

March 6, 2018

One of the main reasons people choose to use a trust for their estate planning is the desire to avoid probate (i.e., court proceedings) and thereby preserve privacy.  In the normal course, there is nothing that prevents trust litigation.  Happily, Utah has a law designed to do just that. Let’s first review the fact that […]

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Certificate of Trust and the difference between what a bank may request and what it actually needs

March 3, 2018

Just because a bank requests information, that does not necessarily mean the bank is entitled to receive such information.  By way of introduction, I spent several years working directly for some of the world’s largest banks while I was employed at a large firm in downtown Chicago.  Since then, I have continued to interact with […]

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Estate planning mistakes can be expensive to fix..

February 26, 2018

… — that is, when they can be fixed at all. This is the introduction to an article that I saw online today from Liz Weston, titled “Should you do your estate plan?”  I agree with the premise of the article.  Sadly, it is all too often the case that estate planning mistakes made by […]

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You don’t know what you don’t know.

February 23, 2018

This is true for all of us in many areas of our life and concerning a good many subjects. Consider a hypothetical situation where a man walks into his accountant’s office to ask a few questions.  (Hopefully, that man was courteous enough to make an appointment, rather than just dropping in.)  This gentleman owns a small […]

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What is a living trust and why should you care?

February 16, 2018

This is a common question dealt with nicely by a Huffington Post article by Carrie Schwab-Pomerantz, CFP. Among the items covered by this helpful online article are the following: basic estate planning starts with a Will, which covers the appointing of a guardian for minor children and provides a very basic framework for asset distribution upon […]

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