Recently, one of my clients asked about joint tenancy ownership, as they had put their children on the deed to their home in joint tenancy. It got me to thinking about the different forms of ownership and how to explain why you would want to consider holding your assets in a living trust instead of [...]
Tag Archives: Estate Planning
July 13, 2010
How family values factor into an Estate Plan
My girl friend recently tried to make homemade tomato sauce. I don’t mean opening a can of purée and adding some seasonings. I mean using tomatoes fresh off the vine from her back yard, boiling, peeling and cooking them. It is some chore, but when it is all said and done, it is mouth watering! [...]
May 4, 2010
An Explanation of the Current Status of the Federal Estate Tax
In 2009 the Federal Estate Tax Exclusion was $3.5 million. In 2010 there is no Federal Estate Exclusion. What does this mean? It doesn’t matter how large your estate is, there will be no federal estate tax (often referred to as the death tax) if you die in 2010. In 2009 there was a step [...]
February 21, 2010
Estate Planning and after-born children
If you are a young couple still planning on growing your family, do not let that be the reason that holds you back from having an estate plan today. The Estate Plans drafted for my clients include a simple statement that includes any after-born children. What this means is, that if you have two children [...]
October 30, 2009
Trick Or Treat- The Result May Depend On Your Estate Plan
Great information from fellow North Carolina Wealth Planning, Protection and Management, Advisor Gregory Herman-Giddens on 12 common estate planning mistakes that he sees all too often. I would add one more: I don’t need a will, I want everything to go to my spouse anyway. All too often, I hear the common misconception that if [...]
October 26, 2009
North Carolina Wills: Information From The North Carolina Court System
While most people have heard the term “will” used at some point in their lives, it is worth taking a moment to discuss just what exactly a will is, and why it is something worth having. According to the North Carolina Court System Website: “A will is a written document in which you direct who [...]
October 9, 2009
Suits Over Yankee Pitcher’s Fatal Plane Crash Settle for $2M, Claims of $60M Dropped
Here is a great REAL LIFE example from the New Jersey Law Journal on how important it is to Estate Plan for your estate. Please read it even if you are not a Yankee fan!!! Insurers and individuals who suffered losses in New York Yankees pitcher Cory Lidle’s fatal plane crash in Manhattan in 2006 [...]
February 16, 2009
Thoughts About President Lincoln from an Estate Planning Perspective
When President Abraham Lincoln passed away on April 15, 1865 he left his family at the mercy of the state laws of inheritance and succession—because he died without a will. It is hard to imagine how Lincoln could have neglected this one thing; after all, he was a statesman and a lawyer. Furthermore, Lincoln is [...]
February 2, 2009
Putting off Your Estate Plan is a Grave Mistake
At a time when the economy is slow and money is tight, many people are looking to save money by cutting back on “unessential” expenses—including estate planning. Although this instinct is understandable, the trend is a disturbing one. Our firm understands the need to dig in during tough times, but what you may not realize [...]
