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Gifting to Children
Most people with substantial assets are interested in benefiting those around them. The fruits of success are best when shared with those close to you. In 2024 each person can give up to $18,000 per year to any other person without any gift taxation. (2025 this goes to $19,000) It’s important to note that you…
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Charitable Giving and the Holiday Spirit
Just a few days before Christmas, Marianne was bustling to finish her holiday shopping. As she pulled into the mall parking lot, her mind raced through her checklist: a video game for her grandson, a photo frame for Aunt Sue, and a crystal vase for her daughter-in-law. Entering her favorite department store, she paused, captivated…
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Ensuring Lifelong Care: The Role of Special Needs Trusts for Children with Autism
David and Sarah were thrilled when their daughter, Lily, was born. Like many proud parents, they shared pictures with friends and family and began setting aside money for her future education. However, as Lily grew older, they started to notice delays in her development. By the age of two, Lily struggled with speech, displayed repetitive…
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Navigating Privacy Laws: How to Protect Yourself and Your Loved Ones
Privacy Laws: How to Safeguard Yourself The federal government frequently enacts legislation aimed at protecting individuals. However, these laws can sometimes lead to unintended consequences. Recently, new federal laws and regulations have been introduced to enhance the privacy of medical information. The Health Insurance Portability and Accountability Act, commonly known as HIPAA, is a significant…
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Why DIY Online Wills Could Cost You More Than You Think
The Pitfalls of Do-It-Yourself Online Wills As a professional trustee and executor, I’ve encountered countless estate-planning documents, including those created through do-it-yourself (DIY) online services. While these platforms can be cost-effective and convenient, they often come with significant risks that can lead to costly and distressing mistakes in estate planning. Issues with DIY Online Estate…
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Safeguarding Your Digital Legacy: Estate Planning in the Electronic Age
Estate Planning in the Electronic Age In today’s electronic age, it seems that things are changing faster and faster. Every time we turn around, there’s a new technology and more and more information to keep in mind and safeguard. Now, increasingly people have “electronic assets,” such as website domain names and accounts with Gmail, Facebook,…
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Keeping Your Vacation Home in the Family
Vacation homes hold a special place in our hearts. Everyone with a vacation home in the family has memories of special times shared with family and friends. Summer weekends and holidays at the lake or mountain home give a rare chance for families and friends to bond without the distractions of the outside world. But,…
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Essential Estate Planning Tips Before You Travel: Lessons from Gilligan’s Island
When the inhabitants of Gilligan’s Island went out for their three-hour tour aboard the S. S. Minnow, chances are they were not prepared for what was about to befall them. Of course, Thurston and Eunice “Lovey” Howell (being the money-savvy individuals they were) probably had a comprehensive estate plan, complete with a Revocable Living Trust.…
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Prevent Family Turmoil with Proper Estate Planning: Lessons from the Terri Schiavo Case
None of us ever expects tragedy. Some of us plan in case it strikes us. But we never really expect it to happen to us. But, on February 25, 1990, tragedy struck Terri Schiavo and her family. At 26, Terri was a woman in the prime of her life enjoying a beautiful day in Florida. …