What is “portability” and how is it elected? This article discusses these topics and explains some shortcuts that can be taken when filing a return only for portability. Read on to learn more. … [Read more...] about Basics of Estate Planning: Portability
Woburn Estate Planning Lawyers Explain Advanced Directives
Although you may not give it much thought, over the course of a single day you make thousands of decisions. Most of those are small, inconsequential decisions, but some of them are much more important. Decisions regarding medical treatment, for example, may impact your health for the rest of your life. Regardless of the decision you make, you are the one making the decision. What happens though, if you are unable to make your own healthcare decisions? Most likely you would want the … [Read more...] about Woburn Estate Planning Lawyers Explain Advanced Directives
Salem Estate Planning Attorneys Explain How to Spot a Fraudulent Will
The loss of a family member, or someone close to you, is never easy to handle. The loss is typically followed by a period of grieving and coming to terms with the loss. From a practical and legal standpoint, the decedent’s estate must also be administered soon after the death, which means the decedent’s Last Will and Testament will be submitted to the court for probate. What happens if you have doubts about the validity of that Will once you learn the terms of the Will or after you get a chance … [Read more...] about Salem Estate Planning Attorneys Explain How to Spot a Fraudulent Will
Basics of Estate Planning: Advising Clients on Selecting Fiduciaries
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Often, one of the most difficult choices for a client to make is the selection of people to make decisions for them. These fiduciaries may have great control over the client’s affairs, typically at times when the client would be most vulnerable or already gone.Let’s take a look at the various … [Read more...] about Basics of Estate Planning: Advising Clients on Selecting Fiduciaries
Basics of Estate Planning: Estate Planning for Major Life Events
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Estate planning attorneys do many things. We help people structure their affairs for the various stages of their lives. When the client is starting out, we may help them establish a basic plan. This might include: A Financial General Durable Power of Attorney. This would allow someone to make … [Read more...] about Basics of Estate Planning: Estate Planning for Major Life Events
Basics of Estate Planning: Asset Protection
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. This week, we’ll take a look at asset protection. Much depends upon whose assets you are looking to protect. If the assets are those that are coming to you, the debtor, then typically, those can be protected completely. The debtor could protect their own assets in three general ways: 1) … [Read more...] about Basics of Estate Planning: Asset Protection
Basics of Estate Planning: Two Common Mistakes with Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Trusts are incredibly useful tools. But, like other useful tools, they do not fit every circumstance. They must be used appropriately. For example, a hammer is an exceptional tool to use when looking to drive a nail into a wall. But, if you hit the nail with a glancing blow, the nail will bend … [Read more...] about Basics of Estate Planning: Two Common Mistakes with Trusts
Basics of Estate Planning: Lack of Coordination
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning.Perhaps the most common mistake in estate planning is a lack of coordination. This is not where the client, attorney, or advisor cannot walk and chew gum at the same time. This is a failure to consider all the different aspects of a plan and how they may (or may not) work together. An … [Read more...] about Basics of Estate Planning: Lack of Coordination
Basics of Estate Planning: Choosing a Roth or Traditional IRA (or 401k)
Roth and Traditional accounts each have their merits. This blog examines the differences between the two. Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. In this blog, we’ll look at the differences between a Roth and a traditional IRA (or 401k). We’ll also look at considerations in choosing between them. With a traditional IRA (or 401k), … [Read more...] about Basics of Estate Planning: Choosing a Roth or Traditional IRA (or 401k)
Law in the U.S. can be Participatory
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. In some countries, like a dictatorship or a true monarchy (not a constitutional monarchy such as the United Kingdom), people do not really participate in making the law. The law is handed down by fiat. In the United States, our laws are enacted by our elected representatives. Sometimes, those laws may be viewed as violating the fundamental rights guaranteed to all of … [Read more...] about Law in the U.S. can be Participatory
