As the population over the age of 65 continues to grow, unique problems arise. For example, many seniors may have never married, or outlived their spouse and lack confidence that someone will help them make financial and health decisions as it becomes more difficult or when they become incapacitated. A qualified Estate Planning practitioner can provide guidance to address the issues unique to the … [Read more...] about Planning for the “Silver Tsunami”
The Lessons from Lisa Marie
Regular readers of this blog often see articles regarding the latest celebrity whose death created a mess because their Estate Plan failed to properly protect the celebrity’s family and loved ones. It seems that an individual with fame and money could easily avoid that result; however, that’s not always the case. The fallout caused by inadequate Estate Plans of celebrities provides great lessons … [Read more...] about The Lessons from Lisa Marie
Have You Missed an Important Area in Your Estate Plan?
Having an estate plan in place is important for every adult without regard to age, wealth, or family status. To ensure that you get the most out of estate planning, you want to create a comprehensive estate plan. To help you do that, the Vero Beach estate planning attorneys at Kulas & Crawford help you determine if you missed any important areas in your estate plan. Incapacity … [Read more...] about Have You Missed an Important Area in Your Estate Plan?
Tax Planning for 2023
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2023 is just starting, it’s not too early to think about planning for whatever it may bring your way. Read on to learn more. … [Read more...] about Tax Planning for 2023
5 Important Estate Plan Documents
Given the unique nature of estate planning, no two estate plans will be exactly the same. Nevertheless, there are some common tools and strategies found in the average estate plan. There are also some documents that should be in almost every estate plan. A Vero Beach estate planning attorney at Kulas & Crawford explains the documents that should be in every estate plan. Last Will and … [Read more...] about 5 Important Estate Plan Documents
Refresh and Reset: Syncing up in San Diego
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning Attorneys held its semi-annual conference providing education on selected topics designed to inspire excellence in its Members. Read on to learn more about the unique experience at the Fall Summit 2022 Conference. Read on to learn more. … [Read more...] about Refresh and Reset: Syncing up in San Diego
Blended Family Estate Planning Essentials
Remarriage after divorce often results in a blended family. Blending two families into one is rarely easy. Sometimes, the tension created when you blend two families into one continues long after the marriage. The death of one spouse can exacerbate that tension and may even lead to bitter and costly litigation. A well-thought-out estate plan can go a long way toward preventing contentious … [Read more...] about Blended Family Estate Planning Essentials
Discharge of Indebtedness Income and Student Loan Forgiveness
While many taxpayers may be excited about the prospect of reduced loan balances as part of Biden’s Loan Forgiveness Program, they may have questions about the potential tax consequences of that forgiveness. Under normal circumstances, creditors that discharge debt issue a corresponding Form 1099-C Cancellation of Debt to the debtor for inclusion in that year’s income. While the administration … [Read more...] about Discharge of Indebtedness Income and Student Loan Forgiveness
Is a Grantor Retained Income Trust Right for You?
Tax avoidance should be one of the most important components of an estate plan for anyone with a moderate to large estate given that all estates are subject to federal gift and estate taxation upon the death of the taxpayer. Your estate will go through the legal process known as probate shortly after your death. During the probate process, your estate assets will be inventoried and valued. If the … [Read more...] about Is a Grantor Retained Income Trust Right for You?
Estate Planning 101
You may recognize the need to have a comprehensive estate plan in place; however, estate planning is likely somewhat of a mystery. Estate planning encompasses much more than just deciding how your estate will be distributed after you are gone. Likewise, an estate planning attorney can do much more for you than you probably realize. The Port St. Lucie estate planning attorneys at Kulas & … [Read more...] about Estate Planning 101
