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Properly planning for incapacity requires specific estate planning strategies

By Legacy Protection, LLP |

Most estate plans focus on what happens after you die. But without arrangements for what will happen in the event you become mentally incapacitated, your plan is incomplete. If an accident, illness or other circumstances render you unable to make financial or health care decisions — and you don’t have documents in place to… Read More »

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20171208

Address your pet in your estate plan using a pet trust

By Legacy Protection, LLP |

If you’re an animal lover, a pet is a member of the family — sometimes even more so than flesh-and-blood. So you want to ensure that your beloved pet is cared for after you’re gone. One way to do so is to make provisions for your pet through a trust. This legally sanctioned arrangement… Read More »

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20171130

Who should be the guardian of your minor children?

By Legacy Protection, LLP |

If you have minor children, arguably the most important estate planning decision you have to make is choosing a guardian for them should the unthinkable occur. It’s critical to put much thought into this decision to ensure your children would be cared for as you wish in such a situation. Evaluating potential candidates Here… Read More »

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LPL

Lawyers for Literacy

By Legacy Protection, LLP |

Click the link to view how Legacy Protection Lawyers is helping our local youth! 

http://lawyersforliteracy.org/info/LFL%20Newslet%20Nov.%202017.pdf

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Tax reform and estate planning: What’s on the table

By Legacy Protection, LLP |

As Congress and President Trump pursue their stated goal of passing sweeping new tax legislation before the end of the year, many taxpayers are wondering how such legislation will affect them. One area of particular interest is estate planning; specifically, the future of gift, estate and generation-skipping transfer (GST) taxes. Potential estate tax law… Read More »

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Make the holidays bright for you and your loved ones with annual exclusion gifts

By Legacy Protection, LLP |

As the holiday season quickly approaches, gift giving will be top of mind. While gifts of electronics, toys and clothes are nice, making tax-free gifts of cash using your annual exclusion is beneficial for both you and your family. Even in a potentially changing estate tax environment, making annual exclusion gifts before year end can still… Read More »

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20171109

Update your estate plan to reflect your second marriage

By Legacy Protection, LLP |

If you’re in a second marriage or planning another trip down the aisle, it’s vital to review and revise (if necessary) your estate plan. You probably want to provide for your current spouse and not inadvertently benefit your former spouse. And if you have children from each marriage, juggling their interests can be a… Read More »

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20171102_1

The write stuff: A letter of instructions

By Legacy Protection, LLP |

When you draft an estate plan, the centerpiece is your will or living trust. Such a document determines who gets what, where, when and how, as well as tying up the loose ends of your estate. A valid will or living trust can be supplemented by other legally binding documents, such as trusts (or… Read More »

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20171026

A charitable remainder trust can provide a multitude of benefits

By Legacy Protection, LLP |

If you’re charitably inclined but concerned about having sufficient income to meet your needs, a charitable remainder trust (CRT) may be the answer. A CRT allows you to support a favorite charity while potentially boosting your cash flow, shrinking the size of your taxable estate, reducing or deferring income taxes, and enjoying investment planning… Read More »

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20171012

Who should own your life insurance policy?

By Legacy Protection, LLP |

If you own life insurance policies at your death, the proceeds will be included in your taxable estate. Ownership is usually determined by several factors, including who has the right to name the beneficiaries of the proceeds. The way around this problem is to not own the policies when you die. However, don’t automatically… Read More »

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