After many weeks of speculation and several false alarms, on Friday the Supreme Court of the United States (SCOTUS) officially agreed to hear two appeals of cases related to gay marriage. The Court’s decision to grant these two petitions mean that next year is set up to be an incredibly…
Estate planning is important process for any couple, but same sex couples have an even heightened reason to ensure the protection of their union. While the recent election resulted in more states legalizing gay marriage, many states, including California and the federal government still do not recognize gay marriages as…
Choosing the right life insurance policy can be tricky. However, sometimes even doing your research and paying a significant amount towards your life insurance does not mean that your beneficiaries will benefit in the end. This lesson became a harsh reality for many beneficiaries of AIG’s life insurance policies in…
This week is referred to by some as the National Estate Planning Awareness Week. It is an opportune time to examine your life and take steps to protect your assets now and in the future. Each stage of life requires a different type of planning, but through it all it…
The present federal estate tax rates and levels are set to expire at the end of this year. Under current rules, only estates that have a total value of $5.2 million have any obligation, paying a top 35% tax rate on any assets over that amount. If Congress allows the…
Caring for a child with special needs and/or raising a child with disabilities is fraught with financial responsibilities that may be difficult to manage. These life situations require careful estate planning when the parent or caregiver is no longer around to make the necessary financial and other decisions for that…
Leaving money to pets in your Will is not as uncommon as you might think. In fact lots of people, especially the elderly, want to make sure that watch dog Fido, or lap cat Fluffy, are well taken care after they are gone. Leona Helmsley, the late 87-year-old real estate…
The person who will make choices for your end-of-life healthcare and the person who will handle your finances may not always be the same person. In fact, you might want to consider having different people handle each one. A power of attorney is a legal document that gives another person…
The first experience some have with estate planning issues occurs immediately after a loved one has passed away. This is unfortunate. Without any prior planning, a death comes with a range of complicated paperwork tasks–grieving relatives are often forced to handle complex affairs in the midst of great emotional turmoil.…
Most stories about celebrity estate planning have one thing in common: they involve planning errors and drawn-out legal battles. But it is important not to overlook the other examples–where planning documents are straight-forward and opportunity for challenges are few and far between. At the end of the day, when knowledgeable…