Estate planning, elder law, family transitions, business planning – the legal issues that affect your family are always evolving. Jennifer writes regularly to keep you informed, educated, and empowered. Browse the latest articles below, or search by topic to find what you’re looking for.
In planning your estate, you most likely have concerned yourself with “big picture” issues. Who inherits what? Do I need a living trust? However, there are numerous details that are often overlooked, and which can drastically impact the distribution of your estate to your intended beneficiaries. At Lewis Kannegieter Law, Ltd. we incorporate a Total Estate...
If you’re like most people, you want to make sure you and your loved ones pay the least amount of tax possible. Many use year-end gift giving as a way to transfer wealth to younger generations and also reduce the overall potential estate tax that will be due upon their death. Below are some steps you can take to make gifts to your heirs without triggering...
Estate planning attorneys regularly receive inquiries from potential clients asking how much a ‘simple will’ costs. But a basic last will and testament cannot accomplish every goal of estate planning; and often cannot even accomplish the most common goals. This fact often surprises people who are going through the estate planning process for the first...
Many grandparents who are financially set love the idea of making gifts to their grandchildren. However, they are usually not aware of the many issues related to what many consider to be a simple gift. If you are considering gifting a significant amount to your grandchildren, some things to consider are: Making a Lifetime Gift or a Bequest: Before making...
Many people own a family vacation home--a lakeside cabin, a beachfront condo--a place where parents, children and grandchildren can gather for vacations, holidays and a bit of relaxation. It is important that the treasured family vacation home be considered as part of a thorough estate plan. In many cases, the owner wants to ensure that the vacation home...
Every year, each individual who dies in the U.S. can leave a certain amount of money to his or her heirs before facing any federal estate taxes. For example, in 2016, a person who dies could leave $5.45 million to his or her heirs (or a charity) estate tax free, and everything over that amount would be taxable by the federal government. Transfers at death...
#1 Establish a Comprehensive Plan Most estate planning attorneys will say that no person should use a “do-it-yourself” will kit to establish their estate plan. If you have a child with special needs, it is extremely important to seek competent legal counsel from an estate planning lawyer with special needs planning experience before and during the process...
If you are married for the first time and are working on your estate plan, the decisions about where the assets go are usually easy. Most parents in that situation want their entire estate to go to the surviving spouse, and upon the death of the surviving spouse, equally to their children. There may be difficult decisions about who will serve as guardians...
“I just need a simple will.” It’s a phrase estate planning attorneys hear practically every other day. From the client’s perspective, there’s no reason to do anything complicated, especially if it might lead to higher legal fees. Unfortunately, what may appear to be a “simple” estate is all too often rife with complications that, if not addressed...
Just as you begin to relax after the hustle and bustle of the holiday season, it hits you. It’s tax time! For most people tax time brings up images of boxes of random receipts and hours of searching for documents. Trying to get ready to do your tax return or organize for that yearly meeting with your tax preparer is a necessary evil. What if you could...
Probate is not scary. There is a common misconception (often used to sell more expensive trust-based plans) that probate is scary and expensive. Probate can be a routine process and in some cases probate may be easier and cheaper than other options. A will does not prevent probate. A will on its own does not transfer property. The will must be submitted to...
One of the most important things in preparing your estate plan is naming the appropriate person to act as your Personal Representative (or Executor). Some people feel there is a “right” person to name, by virtue of relationship, birth order, or proximity – these reasons can lead to disastrous results if the wrong person is selected. A complete estate plan...