Category: Blog

When you woke up this morning, did you think about dying, and what might happen after? If you didn't, don't feel bad; most people don't. Most of us don't start thinking about death until someone else dies, especially if it's someone our age or younger, and it hits us; we're mortal. Death is going to happen to us sooner or later. But then, the feeling passes and we get back to not thinking about it anymore. And now you know why most people don't plan for their estate. According to statistics, fewer than half of Americans have even a simple… Read More

While most estate plans take into account life insurance as an element, too often, the multigenerational elements of life insurance are too often overlooked as a crucial asset. Usually, a life insurance policy is taken out on the patriarch of an estate and it is used to create a death benefit that is either earmarked for the estate or one specific beneficiary.   That is starting to be seen as somewhat shortsighted, and many estate planners are recommending that those planning an estate go a little farther and take out policies on children and grandchildren. While many may see such… Read More

It's not at all unusual to see clients come into our practice who are in 40s or 50s and a little spooked after someone dies who is roughly the same age. Suddenly, they begin to takes the idea of estate planning a little more seriously than they did in their 20s and 30s, when they didn't believe they were going to die anytime soon.   But the thing is, it's never too early to begin estate planning. Even a 22-year-old who just graduated college and started a new job should consider one, even if it's no more than a relatively… Read More

Business owners are always looking for an edge in everything they do, especially when it comes to avoiding taxes to the extent possible. Because there are estate and gift taxes to consider, among other things, one would think that all business owners would be interested in estate planning. However, they're really not, apparently. Well, not all of them, anyway. A recent survey showed that about 30 percent of business owners had any kind of an estate plan, even something as simple as a will. Despite their willingness to dive into the murky waters of business, most of those who choose… Read More

In Part I, we discussed why you should speak to an estate planner as early as possible when you decide to get married a second time, preferably before you do so. Failure to do so could actually result in adding even more stress to your family than they will already feel after you pass on. In Part II, we will get into the ways an estate planning lawyer can protect everyone in your family, especially the children from your previous marriage. We'll start with trusts. Trusts are a great way to transfer money and property to loved ones, especially if… Read More

There could very well be nothing more satisfying when it comes to estate planning than getting it right when it comes to blended families. There are a number of complicated issues to work out if you want to take care of your second (or third) spouse and the children, as well as any children you may have from your previous relationship.   One thing is for sure; letting them all battle it out after you're gone can not be a serious option. That is an invitation to disaster, to say the least. If you have ever been through a divorce, you know… Read More

We've dealt with these terms before on this blog, but it never hurts to conduct a refresher now and then. The following are terms that are commonly used, and we want to make sure you know what they are.   The estate-tax exemption   This is the amount you can leave to your heirs without incurring any federal estate tax. For 2015, the limit is $5.43 million. If you have a spouse, both of you are entitled to this exemption, each. Not only that, but if one spouse dies, any amount of that exemption that hasn't been used rolls over… Read More

The lives of Americans, including Georgians,  have become increasingly digital. That means a lot more of our assets are based on ones and zeroes and they are not entirely tangible, at least by the traditional definition. Increasingly, our digital assets are located elsewhere, outside of our possession and control, such as those we create online. Unfortunately, the law hasn't kept with our technological reality, and estate planners all over the country, including those in the Atlanta region, are trying to advise clients on how to deal with these digital assets when they die or become incapacitated.   If you're typical, you… Read More

Estate planners love to help families; at least we do. It's why we do what we do. And one of the things we love the most comes with the aspect of the process that leads to protecting a family's legacy and traditions, or even creating new ones for future generations. This part of the process involves a lot more than nuts and bolts and tax avoidance and asset protection; it delves into the real reason you craft an estate plan in the first place; to protect your family. And part of that protection can include their legacy and traditions.   … Read More

Estate planning isn't always the easiest subject to broach with anyone, but to those who are self-employed, the topic can lead to something akin to panic. For those who own a business, the process can be very complicated, but it's even more complicated when the business is a very small one. Besides considering business assets, including business accounts, there are a number of other issues to consider. For example, self-employed people too often are unable to afford a good health insurance plan or even catastrophic health insurance.  They are also less likely to be able to afford long-term care protection, which means… Read More