Each year the University of Miami sponsors the Heckerling Institute on Estate Planning. The 58th Institute took place in Orlando, Florida in January 2024. The Institute is widely regarded as the premier estate planning program in the country as thousands of attorneys, trust officers, financial planners, and related parties descend upon the Orlando World Center Marriott Resort and Convention Center for a week-long educational and networking conference. As the Associate Director of Education … [Read more...] about The View from Heckerling 2024
Do You Want to Discuss Dynasty Trusts?
Dynasty Trusts present a great opportunity to pass significant wealth on to future generations. If structured properly, the assets of a Dynasty Trust pass with minimal gift, estate or generation-skipping transfer tax consequences. As we approach the sunset of the temporarily doubled Applicable Exclusion Amount, practitioners and clients should consider whether a Dynasty Trust makes sense for them. Read on to learn more. … [Read more...] about Do You Want to Discuss Dynasty Trusts?
10 Estate Planning Mistakes You Can Avoid Making
Estate planning is a multifaceted process that requires careful consideration and strategic decision-making to ensure your assets are safe while you are alive and that they are managed and distributed according to your wishes after you pass away. Despite how important estate planning is, many individuals make critical mistakes that can have significant consequences for themselves and for their loved ones. To safeguard your legacy and provide peace of mind for your family, it's essential to steer … [Read more...] about 10 Estate Planning Mistakes You Can Avoid Making
The Magic of Grantor Trusts
Grantor trusts are a particularly powerful tool in estate planning. They allow the taxpayer to remove assets from their taxable estate, while those assets can grow tax-free because the grantor is paying the income tax for the trust. Read on to learn more about the magic of grantor trusts. … [Read more...] about The Magic of Grantor Trusts
If Your Spouse Remarries After Your Death Will Your Assets Be Safe?
If you are married, an important focus of your estate plan is likely ensuring that your spouse is financially protected in the event of your death. If you have children together, you likely plan for your combined estate assets to be passed down to your children after you are both gone. What happens, however, if you die at a relatively young age and your spouse remarries? Will the assets you intended for your children be safe? The Beverly estate planning attorneys at Legacy Care Law Firm discuss … [Read more...] about If Your Spouse Remarries After Your Death Will Your Assets Be Safe?
Maximizing Impact: Charitable Gifting in Your Estate Plan
When it comes time to create an estate plan, many individuals want to leave a lasting impact on causes dear to their hearts through charitable giving. Crafting an estate plan that includes provisions for charitable gifting not only allows you to support causes you are passionate about but also provides potential tax benefits and a meaningful legacy. For those interested in charitable gifting, the attorneys at Legacy Care Law Firm discuss the importance of incorporating charitable gifting into … [Read more...] about Maximizing Impact: Charitable Gifting in Your Estate Plan
What’s Retirement Got to Do with it?
As more and more Baby Boomers retire, many wonder where they should spend their golden years. Each person’s unique facts and circumstances should inform that decision, including, without limitation, the various taxes imposed by each state. The findings in this article might surprise you. Read on to learn more. … [Read more...] about What’s Retirement Got to Do with it?
How to Leave an Enduring Legacy for Future Generations
If you have already taken the crucial step of establishing an estate plan, you have demonstrated foresight in securing your financial assets and ensuring your wishes are honored. The concept of legacy planning introduces an additional layer of depth to your preparations. The point of legacy planning is not to replace your existing estate plan. Instead, it enriches and extends it, offering a comprehensive approach to leaving behind a meaningful and lasting impact. In essence, while your estate … [Read more...] about How to Leave an Enduring Legacy for Future Generations
Estate Planning for Grandparents
Becoming a grandparent is a joyous and profound experience, filled with the promise of sharing wisdom, creating lasting memories, and leaving a positive impact on future generations. As you navigate this exciting phase of life, it becomes crucial to consider the integration of comprehensive estate planning tools and strategies into your existing estate plan. To help get you started, the attorneys at Legacy Care Law Firm offer some estate planning tips designed to help you navigate the intricate … [Read more...] about Estate Planning for Grandparents
Massachusetts Guide to Medicaid for Seniors
At some point during your retirement years there is a strong likelihood that you and/or your spouse will need some type of long-term care services. If that care includes nursing home care, the cost of that care will be high, particularly if you are in Massachusetts. Many seniors find themselves turning to Medicaid for help paying for the high cost of long-term care. The need to qualify for Medicaid, however, can put your retirement nest-egg at risk. To help protect your assets and ensure your … [Read more...] about Massachusetts Guide to Medicaid for Seniors
