While the main objective of estate planning is to help individuals protect their assets and provide for loved ones, there are other important considerations, such as planning for incapacity. In short, it is crucial to plan for the type of medical care people wish to receive if...
We all need a Will if we have any assets that we are going to leave behind but often extra care is not taken with specific instructions. These specific instructions could have a life changing difference to your children which are without a doubt your biggest asset, no matter...
Wills offer many benefits and are an important part of any estate plan, regardless of how much property you have. Your will can ensure that after death your property will be given to the loved ones you designate. If you have children, a will is necessary to designate a guardian...
While the terms "estate tax" and "inheritance tax" are often used interchangeably, they are not synonymous. Let's try to clarify the difference. Estate Tax Estate tax is based on the net value of the deceased owner's property. An estate tax is applied to these assets when they...
The role of an executor or Personal Representative is to effectuate a deceased person’s wishes as declared in a will after he or she has passed on. The executor’s responsibilities include the distribution of assets according to the will, the maintenance of assets until the will...
When creating a living trust, it is common practice that the person doing the estate planning will name themselves as trustee and will appoint a successor trustee to handle matters once they pass on or become incapacitated. If you have been named successor trustee for a person...
A Revocable Living Trust is a common estate planning tool that has many benefits. As a revocable trust, the person creating the trust, the grantor, retains the ability to change or rescind the document at any point. The document is called a “living” trust because it is...
There are many circumstances that can impact an estate plan, not the least of which is your marital status. Spouses are granted a wide variety of rights to each other’s property in the event of death or divorce. While the laws do vary from state to state, there is often a...
In this computer age, when so many tasks are accomplished via the internet -- including banking, shopping, and important business communications -- it may seem logical to turn to the internet when creating a legal document such as a will. Certainly, there are several websites...
A thorough and complete estate plan must take into account a significant amount of information about your assets, your family, your property, and your wishes during and after your life. When you schedule your Personal Strategy Session at Lewis Kannegieter Law, Ltd. you are...
Becoming a new parent is a life changing experience, and caring for a child is an awesome responsibility as well as an amazing joy. Among the many things for new parents to do to provide for their children is to complete their own estate plan. This is the time to think about...
Although most people don’t like to think about it, death is inevitable. It’s imperative that you have an estate plan in place that outlines your end of life wishes and how you would like your assets distributed upon your passing. As part of your planning, it’s important that...