Blog Category - Estate Planning Page 15

Name: Strauss Attorneys PLLC
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Feb

Estate Tax Update

On January 2, 2013 President Obama signed the American Taxpayer Relief Act (ATRA) into law. Many of the temporary provisions from prior tax acts were made permanent ending much confusion and speculation. Federal Estate, Gift and GST Taxes − The estate tax, gift tax and generation...

Feb

Successful Estate Planning: A Six Step Process

STEP ONE: Define Your Goals What do you want to happen to your assets in the event of your death or disability? If your beneficiaries predecease you, who are your alternate selections? How will your assets be distributed, and when will these distributions take place? Decisions on...

Feb

Do you own a Gun?

Recent tragic events highlight the importance of maintaining a dialogue about the responsible, accountable and safe possession and transfer of firearms in our country. This is why it’s critically important for every law-abiding gun owner to stay abreast of all the complex and evo...

Feb

Ten things to do before the end of 2012

The end of the year will be here before we know it. But there is still time to meet some major estate planning goals. Here are ten things to do before the end of 2012. 1. Have your estate planning done. Set the end of the year as your deadline to finally get this completed. If yo...

Feb

Business Succession

Have you been looking forward to the day you can retire, perhaps turn your business over to a son or daughter, or sell it? Even if you are not planning to stop working, you need to plan for the day you cannot run your business due to unforeseen illness or death. Most business own...

Feb

Art and Collectibles in your Estate

I have collected art throughout my life; some of it is quite valuable. Is it included in my estate for tax purposes? Just like any other asset, art work or other collectibles are included in valuing your estate for estate tax purposes. The value that is included is the fair marke...

Feb

How does an irrevocable insurance trust work?

An insurance trust, like any trust has three parties. The grantor or trustmaker is the person creating the trust. The trustee is the person selected to manage the trust. The trust beneficiaries are the person(s) you name who will receive the trust assets after you die. The truste...

Feb

Three Myths about Estate Planning

1. I’m too young to worry about estate planning. Reality: If you’re young, you need to map out an estate plan to protect your loved ones, minor children in particular. 2. My estate isn’t large enough to need estate planning. Reality: If your estate is fairly small it will likely ...

Feb

Should we discuss our estate plan with our children?

This is a delicate decision that depends on your family, the relationship between you and your children, the relationships your children have with each other and whether or not you are treating your children equally. If the goal is to avoid hard feelings, and if one child is give...

Feb

We both have children from prior marriages, how can our estate plans protect them?

It is extremely disturbing to hear about situations where one spouse received property from the other then left it to his or her own family excluding the spouse’s children. Sometimes this happens inadvertently through lack of planning or bad planning rather than a deliberate inte...

Feb

The Most Important Love Letters You’ll Ever Write?

Many people have the misperception that estate planning is simply preparing for what happens at death and is only necessary for the wealthy or affluent. To the contrary, estate planning is as much about passing values to loved ones as it is about passing material possessions. Thu...

Feb

What can I do to provide for my pets?

Many of our clients have expressed concern about providing for their pets if they are unable to care for them. People execute wills so that family members or other loved ones are provided for this includes their pets. If you are fortunate enough to have a friend or relative who w...

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