If your estate plan calls for making noncash gifts in trust or outright to beneficiaries, you need to know the values of those gifts and disclose them to the IRS on a gift tax return. For substantial gifts of noncash assets other than marketable securities, it’s a good idea to have a qualified appraiser value the gifts at the time of the transfer.
Some of the most important work on your estate plan doesn’t take place in the lawyer’s office, or involve the details of wills or trusts.
Planning to pass away — it’s a touchy subject with many clients, but one that has to be addressed.
Estate planning is an important piece of an overall financial plan, but it can't be set and forgotten. Life events are going to require you to update it.
While many entrepreneurs are focused on growing the business, they often neglect to consider what will happen if they are injured.
Got a plan? Whether you’re single or married, divorced or widowed, a parent or not, you need an estate plan. That’s true for men and women, but women face challenges that make it even more important for them to start planning sooner.
It can be tough to start thinking about estate planning, but it's an important part of any long-term financial plan.
Estate planning rules could change soon, and you need to prepare now.
This article is intended to provide general information and should not be considered legal, tax or financial advice. It's always a good idea to consu...
Many people consider estate planning too private or morbid to discuss. There's even an element of superstition that talking about bad things will cause them to happen. But while having these conversations takes a lot of courage, they can help avoid surprises, lead to better financial planning and promote family harmony. For a cautionary tale of what can happen otherwise, read 'In Battle For Thomas Kinkade…
The proper estate planning documents you need in case of emergency! Nobody likes the thought of an emergency cutting a life short. Es...
No one likes to talk about estate planning, but if you don’t have the right conversations and make the proper preparations it can spell disaster for you and your loved ones.
Many couples who have just gotten married may see their matrimony as a lifelong partnership and the beginning of a new family. What they may not consider is what happens when the inevitable happens.
When it comes to estate planning, not having a plan is a plan. But not a good one.
First, let’s debunk the myth that an estate plan needs to be both elaborate and expensive.
As the saying goes, nothing is certain in life except death and taxes. While no one likes to think about their own mortality, developing your estate plan is a loving way to care for your family even after you are gone. If you don’t develop your estate plan, state law will decide for you and...
Even if you are aware that you own digital assets, you may have not yet included them in your estate plan.
A Geneseo estate planning attorney at Nash, Nash, Bean & Ford, LLP explains why the value of your estate has nothing to do with the need for an estate plan.
Even if your plans are simple, discussing the details of your estate plan with heirs and family members can help you deal with disagreements or controversies before you pass away.