Estate taxes, which some people call the death tax, can have a significant impact on the overall value of a non-exempt estate. If an estate is large enough to owe federal estate taxes, that financial obligation can significantly reduce what beneficiaries inherit. Estate tax rates can be as high as 40% in some cases. Prior […]

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Pet owners tend to feel a sense of devotion toward their companion animals. They want to offer them the most comfortable and enriched life possible. Protecting a pet sometimes requires considering what may happen to the animal when the current owner dies.  People in their golden years and those with major medical conditions might consider […]

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What would happen if you could not care for yourself? It is hard to imagine a day when you could not feed, bathe or dress yourself. However, a serious accident or medical condition could make it difficult for you to care for your needs. Your estate plan can help determine what happens if you cannot […]

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For many people, estate planning simply involves creating a list of their assets and intended beneficiaries, along with details regarding who inherits which assets. Others have to consider their situations more carefully due to more complicated circumstances. Testators drafting estate plans sometimes have to make special provisions for their medical challenges or the unique needs […]

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There are many different documents you can use in an estate plan to address what may happen in the future. One example is a power of attorney, which grants an agent the power to make important decisions on someone else’s behalf. For example, an elderly person may be concerned about their own declining mental capacity, […]

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The probate process can easily take a year or longer to complete. Personal representatives have to identify and secure the assets of the deceased individual. They need to locate a will, if there is one, and then present it to the probate courts. Communication with interested parties is also one of their most important responsibilities. […]

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As you make your estate plan, one of your main goals may be to avoid disputes between your adult children. Perhaps there has always been some element of sibling rivalry. Maybe you have seen other families get into disputes that leave lifelong rifts between siblings. One thing to focus on is why these disputes happen, […]

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Wills are typically physical documents. People once wrote their wills by hand or had an attorney manage that process for them. Modern testators establishing estate plans frequently have lawyers draft printed instruments that are more legible and professional-looking. They sign a physical copy of the will, which their personal representative can later present to the […]

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In the event of an incapacitating incident, a person may need emergency medical care while they remain incapable of expressing their wishes to others. A living will or advance medical directive helps clarify what preferences an individual has. An advance directive can guide their treatment when they cannot communicate their wishes directly. What important issues […]

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Estate administration imposes many obligations on personal representatives or executors. Fulfilling financial obligations is one of the most important responsibilities during estate administration. Personal representatives who make major mistakes related to the financial obligations of the deceased individual may sometimes have responsibility for unpaid balances due. The failure to pay taxes could lead to personal […]

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