No. The Tax Cuts and Jobs Act ended estate planning expense deductibility as an itemized deduction in 2018 but will expire at the end of 2025. Ask your tax professional.

Adults all need some form of an estate plan. When turning 18, everyone should have both a Living Will and a Health Care Power of Attorney. Once a person has accrued $20,000 in property, they should have a Last Will & Testament so they can both decide who should receive their property, but also to avoid probate. Further, it avoids dying without a Will (intestacy), which allows the government to step in and manage your affairs.

It depends on your circumstances, how much you own, what you own, and how you want to distribute it upon your death. Common estate planning tools include: Last Will & Testament, Trust, Financial Power of Attorney, Living Will, Irrevocable Trust, and Health Care Power of Attorney. We provide a consultation to review your unique circumstance and provide several options to protect your property and provide for your family.

When you turn 18, you may not need a complete estate plan, but portions of a plan can help protect you, even at an early age. We offer scalable options to fit everyone’s individual needs. Don’t wait until you’re in a situation where you NEED an estate plan.

Everyone should have some sort of estate plan, regardless of their age or net worth. A good estate plan can help ensure that your assets are distributed according to your wishes after you die, and can also help protect your loved ones from legal and financial complications in the event of your death. Should you become unable to care for yourself, an estate plan can help inform loved ones of exactly how you’d like to be care for.

The important thing is to get started sooner rather than later, so you can be sure that your plan is up-to-date and reflects your current wishes. Reach out to our office for assistance.

There are many factors to consider when estate planning, including your age, health, wealth, family situation, and personal preferences. The best way to start is by considering what you want to happen after you die and then working with an experienced attorney to create a plan that meets your needs.

When you create an estate plan, you are essentially creating a road map for what will happen to your property and possessions if you become incapacitated. You can choose who will inherit your property, spell out how you would like it to be divided up, and put in place mechanisms to ensure that your wishes are followed.

You can also use estate planning to name a guardian for your children in the event that both parents die simultaneously, or set up a trust fund to provide for their care and upbringing. Additionally, estate planning can help you reduce or avoid estate taxes, which can be hefty when levied against large estates.

Creating an estate plan is an important step in ensuring that your loved ones are taken care of after you’re gone.

There are some key things you need to think about when it comes to estate planning for your business. First, you need to make sure that your business will be able to continue running in the event of your death or incapacity. This means having clear instructions and structures in place so that someone else can step in and take over.

You’ll also need to think about how your business will be taxed after you die. There are special rules for businesses when it comes to estate taxes, so you’ll want to consult with an advisor to make sure everything is set up correctly.

You never know what can happen in life. The best way to begin planning for your business is to reach out to an experienced estate planner for assistance.

Estate planning is the process of arranging for the management and disposal of a person’s estate during their lifetime and after death. The goal of estate planning is to maximize the value of the estate by minimizing taxes and other expenses, and to ensure that the wishes of the person who made the plan are carried out.

Some common elements of an estate plan include a will, power of attorney, living will, healthcare proxy, and trusts. Each element serves a specific purpose in ensuring that the person’s wishes are carried out. For example, a will specifies how assets should be distributed after death, while a power of attorney allows someone else to make decisions on behalf of the person if they become incapacitated. Contact our office to learn more about the estate planning tools that are available to you.

It depends on the complexity of your estate. If you have a complex estate with a lot of assets, it could take more than a year to complete. On the other hand, if you have a simple estate with few assets, it might only take a few weeks.

The most important factor in determining how long estate planning will take is how much work needs to be done to wrap up your affairs. This includes finalizing your will and power of attorney, closing bank and investment accounts, transferring property titles, and notifying various government agencies of your death.

If you’re working with an experienced estate planning attorney, they should be able to give you an estimate of how long the process will take once they have a clear understanding of your estate planning goals.