As more and more people marry more than once, prenuptial agreements have become an important estate planning tool. Without a prenuptial agreement, your new spouse may be able to invalidate your existing estate plan. Such agreements are especially helpful if you have children from a previous marriage or important heirlooms that you want to keep […]
Category Archives: Estate Planning
09
Oct
Oct
When you’re reviewing your estate plan, it’s important to think about how to divide your estate among your children. While you don’t need to leave siblings equal shares, be aware that inheriting unequal amounts can cause arguments among children after you pass. To avoid disagreements from the get-go, you may want to leave your children […]
06
Oct
Oct
A recent case in Illinois highlights the value of mediation in resolving estate-planning disputes. The case involved a successful family business created by Daniel and Mary O’Brien. The business, valued at $125 million as of 2013, included interests in hotels, a nursing home, a golf course, gas stations, fast-food franchises and warehouses. Most of the […]
03
Oct
Oct
So much is online these days, which means we have passwords for just about everything! This is great for ease of use, but it can present some challenges for your heirs should something happen to you. Even if you have a power of attorney in place, without passwords, it may be difficult for designated individuals […]
25
Sep
Sep
When we think of estate planning, we often think of the legal documents involved such as the will, trust, power of attorney, etc. However, good estate planning goes beyond that. When we pass, our families are often left to figure out a lot of things, even when an estate plan exists. Getting organized can help […]
30
Jul
Jul
The value of an estate is important for tax purposes. There are two estate valuation approaches allowed by the federal government. Below is a look at why it may be better to select one over the other. Calculating Values Fair market value is used for estate asset valuation. For assets such as bank accounts, it’s […]
26
Jul
Jul
If you are preparing an estate plan, one of the figures that you are likely focused on is the value of your estate. Naturally, the higher the value, the more you are leaving behind to your heirs. If you are not happy with the current figures, there are many different ways to increase the value […]