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estate planning Archives

New law allows disabled individuals to more easily create self-settled special needs trusts

Families of those with special needs know that there are challenges to ensuring their loved one has adequate financial support as an adult. Although state and federal assistance is available to help those with special needs, these programs usually require families to meet strict financial requirements.

Ensuring capacity in trust-making: one reason to work with an experienced attorney, P.2

In previous posts, we've been discussing a recently passed federal law which allows disabled and special needs individuals to more easily create self-settled trusts. We've also been looking at the issue of capacity in the creation of wills and trusts, as capacity is a requirement to create a self-settled special needs trust under the new law.

Looking at the impact of Trump on the federal estate tax, P.2

In our previous post, we looked briefly at some of President-elect Trump’s planned tax policies, noting that changes are coming to federal estate tax. As we pointed out, federal estate tax law has gone through significant changes in recent years, particularly regarding the estate tax exemption, which was $5.43M for the 2015 tax year.

Looking at the impact of Trump on the federal estate tax, P.1

The election of Donald Trump as the next President of the United States was certainly a surprise for many people. Nearly a month after the election, individuals and businesses are anticipating and preparing for the changes that are likely to come. Trump has already made known to the public what his plans will be in the first 100 days of his presidency, and it is clear that there will be significant changes coming with respect to taxes.

Preventing probate/estate disputes : work with an experienced attorney, P.3

In recent posts, we’ve been looking at the topic of probate disputes. Last time, we pointed out some of the factors that can increase the likelihood of such disputes occurring. In addition to the factors we’ve already mentioned, the likelihood of probate disputes occurring is increased by the failure to update an estate plan and by poor planning strategies, of which there are many possible examples.

Bob Dylan builds on his legacy: have you protected yours?

The 2016 Nobel Prize for Literature was bestowed upon none other than music great, American singer and songwriter Bob Dylan. To quote, Dylan was granted the famed and coveted award "for having created new poetic expressions within the great American song tradition."

Work with experienced attorney to ensure your will is enforceable, P.2

Previously, we began looking at the issue of ensuring the enforceability of a last will and testament. As we noted, two important areas to look out for are ensuring the document is properly executed and that it is not tainted by fraud, duress, mistake or undue influence.

Work with experienced attorney to ensure your will is enforceable, P.1

Setting down one’s wishes regarding the disposition of one’s property after death is important business, particularly for those with significant wealth. One reason for this is that challenges to a will can result if the document is not well drafted and properly executed, and this can translate into increased costs for the estate, more time in court, and less money for surviving friends and family. What can a testator do, then, to ensure the enforceability of his or her will?

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