Because of the numerous and varied estate planning goals a trust can help achieve, it is very common to see at least one trust agreement in the average estate plan. Once a trust becomes active, the trust must be administered by the Trustee. Trust administration is frequently more complex and complicated than people realize. Failing to understand what is involved in trust administration can lead to appointing the wrong person as your Trustee which is why it is imperative to learn the basics of … [Read more...]
6 Important Estate Planning Considerations – Part 2: Long-Term Care
Many considerations must be addressed in an estate plan, not just who gets whatever’s left after your death. Long-Term Care expenses are an ever-increasing concern. Your estate plan should consider how those expenses would get paid. This article looks at several ways to plan for those expenses. 6 Important Estate Planning Considerations – Part 2: Long-Term Care … [Read more...]
6 Important Estate Planning Considerations – Part 1: Incapacity
One of the most important considerations in an estate plan is incapacity planning. This article describes how an estate plan provides incapacity planning and the documents which may be used to accomplish that planning. It also looks at how having a plan in place may relieve stress during an emergency. 6 Important Estate Planning Considerations – Part 1: Incapacity … [Read more...]
May is Older Americans Month — The Perfect Time to Review Your Estate Plan
Over the last century, the average life expectancy of an American has almost doubled thanks to advances in science and medicine as well as an overall increase in the standard of living we all enjoy. Growing old no longer has to have the negative connotation it once had. Each year, the month of May is recognized as “Older Americans Month” during which we honor the older people in our lives and celebrate getting older ourselves. If you are at, or near, retirement age yourself, Older Americans … [Read more...]
Retirement: It’s not Just About the Money
Many factors go into retirement decisions. This article examines some of those factors. Being financially prepared is one aspect. Having your estate planning in order is another. But, being socially and psychologically ready for retirement are yet other aspects which people often don’t consider. Be ready for your next phase of life, this article will help you get there. Retirement: It’s not Just About the Money … [Read more...]
Retirement Planning–Your Destination Matters More than You May Realize
Retirement planning for most people seems to begin the moment they enter the workforce. For many years, that planning will likely focus almost entirely on building the financial resources to live comfortably during your retirement years. As you near retirement age, however, you need to start thinking about something else that will have a significant impact on both your retirement budget and your quality of life – your retirement destination. Retirement Planning Considerations Retirement … [Read more...]
Top 5 Tips from Estate Planning Attorneys
Creating a comprehensive and properly drafted estate plan is one of the most valuable gifts you can give to yourself and to your loved ones over the course of your lifetime. When creating that plan, the advice and guidance of an experienced estate planning attorney will be crucial to the overall success of the plan once it is implemented. In the meantime, the estate planning attorneys at the Law Offices of Kobrick & Moccia offer the following five tips to help you create a successful estate … [Read more...]
How Are You Planning for Long-Term Care (LTC) Expenses?
What’s the right direction for you in planning for future medical expenses? The odds are even that you’ll need long-term care (LTC) after age 65, at least for a while. Here are possible paths for covering those potential costs. How Are You Planning for Long-Term Care (LTC) Expenses? … [Read more...]
Treasury Releases New Inflation Adjustment
The new tax law doubled the estate tax exclusion through 2025. This article looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion. Treasury Releases New Inflation Adjustment … [Read more...]
Income Tax Basis in Estate Planning – Part 2
When choosing the direction to take in estate planning, it’s important to consider the impact of the proposed estate plan on income tax basis. Basis is often overlooked when estate planning strategies are considered. This article examines how common estate planning strategies impact income tax basis. Income Tax Basis in Estate Planning – Part 2 … [Read more...]
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