Like many Americans you may own property outside of the United States. Whether you inherited an ancestral family home, purchased a vacation retreat, or are currently living in a home you own oversee, owning property in another country makes estate planning a bit more complicated and increases the importance of having a well-thought-out estate plan in place.
What are your New Year’s resolutions this year? Ever thought about adding estate planning to the list? You should; and here’s how to do it.
It’s likely we’ve all taken some bad advice at some point in our lives, but when it comes to issues like taxes, bad advice can have very serious legal and financial consequences for you and your loved ones. Seeking an experienced estate planning attorney for legitimate ways to protect your assets and reduce tax obligations is the best way to prevent becoming an unfortunate victim of bad advice, like actor Wesley Snipes.
While you may not be able to physically lend a hand, one of the ways you can help a cause at home or overseas is through gifting. However, choosing to donate to a reputable charity or foundation is just the first decision. Find out more about charitable gift giving, including how to structure your gifts in such a way that not only helps you save taxes but allows you to provide for your loved ones and contribute to a greater cause.
Estate planning for an 18-year-old isn’t something most people think about, but there are certain documents you need to create in case something happens to a young adult. An estate planning lawyer can help.
Did you just find out you are the Trustee of a Trust? If so, you are probably feeling honored, and maybe a bit intimidated if this is your first time acting as a Trustee. In this article, find out what a Trustee’s role is within the Trust as well as the duties and responsibilities of a Trustee.
Just because you receive an inheritance does not mean you have to accept the assets. You have the right to disclaim the inheritance, which can be beneficial in some circumstances.
Your vacation home is a source of countless cherished family memories, and you may want to keep the property in the family, for your children and grandchildren to enjoy even after you’re gone. However, without proper planning, your vacation home can become a source of conflict for your loved ones. Learn how good planning can protect your vacation home for future generations.
It’s something you figure out early in your role as a parent: treating your children fairly does not always mean treating them exactly equally. The fair vs. equal dilemma extends far beyond the days of mediating sibling squabbles and enforcing bedtimes. Sometimes in estate planning, as in parenting, fair does not necessarily mean equal.
Don’t leave your future, your children’s, or your estate’s future up to chance. Learn about the odds of incapacitation and death, and how a comprehensive estate plan can tip the balance in your favor.