Today there are many options for people to choose as to how their loved ones should handle the disposition of their remains. Cremation is on the rise. In 1999 only 25% of Americans were cremated. In 2009, the percentage rose to 37%. It is estimated that by 2025, 60% of…
The Wall Street Journal recently had a good article with Seven Smart Money Tips to get the most for your holiday bucks. Some of the tips relate to estate planning. Tip #1 – Set a gift budget Rather than just go blindly to the mall and start buying, set a…
From time to time it is fun to look back on what are some of the strangest bequests people have put in their estate planning documents. 1. An eccentric lawyer named Charles Vance Miller, a resident of Canada, was noted for his practical jokes. He left a large sum of…
As we approach the holidays, estate planning is probably the last thing on your mind. The end of the year is actually a great time to think about your estate plan. Here are some tips for year end planning. 1. Consider making gifts before year end. Gifting to your children…
Since the recent election, there is speculation that the Republicans may try to address the estate tax issue with the lame duck Congress. It was a Republican controlled Congress that enacted the law in 2001. The law called for an increase in the estate tax exemption until 2010 when the…
Many clients have questions about leaving a distribution from their estate to a beneficiary who has an addiction. Leaving money or assets to an individual who has an alcohol, gambling, or drug addiction can be concerning so they want to make sure that the individual will not squander their inheritance…
As of November 1, 2010, the cost to file for probate is increasing to $395. This fee is set by the Court and the size of the estate is not considered. What other costs are involved in probate? The person petitioning the Court to be appointed administrator or executor will…
A very special theme park opened in San Antonio, Texas this past spring. It is called Morgan’s Wonderland and is a 25 acre theme park designed for kids and adults with special needs. Gordon and Maggie Hartrman found out 13 years ago that their only child Morgan had severe cognitive…
Frequently we have clients who come in after the death of a spouse and have learned that their spouse failed to update a beneficiary designation of a life insurance or an IRA or some other retirement account after a divorce. They want to know if there is anyway to prove…
Since 2007, California gives certain legal rights to same sex partners and opposite sex seniors (where one partner is at least 62 years old) who are not married but are registered domestic partners. In some cases, these rights may be very similar to married couples. In order to become a…