Estate Planning and Mental Health

Why You Need to Consider Mental Health in Estate Planning An estimated 19.9% of Americans hold a diagnosis of a behavioral or mental health issue at any time. Mental illness affects people of all ages and from all walks of life. If one of your heirs has a mental or behavioral health diagnosis that impacts their...

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Estate Planning for Physicians

Why Physicians Need to Create an Estate Plan Over the average career of a physician in the United States, a practicing doctor can expect to earn at least $6.5 million. Many physicians earn much more, and they may also accumulate assets that heirs may disagree about after the doctor's death. Establishing an estate...

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The Importance of Powers of Attorney

Summary: Powers of attorney are important estate planning documents that give individuals the legal authority to make decisions on behalf of somebody else. Power of attorneys often go into effect when the principal becomes incapacitated, but they may also be used when a principal is capable of acting on their own...

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Why You Might Want To Have a Trust as Part of Your Estate Plan

Reasons to Consider Adding a Trust to Your Estate Plan It's estimated that those born between 1944 and 1964 will transfer nearly $30 trillion in wealth to their children and grandchildren. While there are many ways to transfer assets to beneficiaries, it may be a good idea to consider using a trust to facilitate your...

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How to Avoid Ancillary Probate

Tips for Avoiding Ancillary Probate in Your Estate Bequeaths In the United States, about 7.15 million single-family houses are second or vacation homes. This accounts for just over 5% of the American housing stock, and these houses often complicate the distribution of assets when they are located in a different state...

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Millennial Estate Planning Facts and Tips

Millennials typically have a lower net worth than their parents, and they carry substantial student loan debt. Additionally, they aren't saving enough for retirement. What's more, since they are often responsible for children, older adults, and sometimes household pets too, it's never too early to start putting...

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The Effect of 529 Plans on Estate and Gift Taxes

For the most part, grantors are required to give up all control of gifted assets. This has many people so afraid of estate tax inclusion that they are completely repelled from this option, but the 529 plan provides the single exception to the rule. Section 529 of the IRC states that no amount can be included in...

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Estate Planning with High Interest Rates

Creating an Estate Plan When Interest Rates Are High In 2022, the Federal Reserve hiked the federal funds rate several times, which resulted in interest rates increasing by a considerable amount. Interest rates for a 30-year mortgage are just over 6% at the moment, which is much higher than the low of 2.65% that was...

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Why You May Need to Sue a Trustee

A trust is an estate planning tool that lets you benefit beneficiaries both during your lifetime and after your death in a manner you feel is best. Unfortunately, there are times when the beneficiaries may want to void a trust or remove or sue a trustee. You could be required to pursue litigation in these situations....

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