One of the most important and useful gifts you can give to your loved ones is to have a comprehensive estate plan in place that ensures that are protected and financially secure if something happens to you. If you have that plan in place, do not forget to update that plan from time to time to make sure it reflects your current wishes. Sometimes, you may need to make an immediate adjustment to your … [Read more...] about When Do I Need to Update Beneficiaries in My Estate Plan?
When you create an estate plan, you must make numerous important decisions. Making some of those decisions may not be easy, but they are necessary. While it may double or triple your “workload,” it is crucial that you include backups – and even backups for your backups – within your estate plan to account for a wide range of possibilities. To better help you understand, the Vero Beach attorneys at … [Read more...] about The Importance of Backups in Your Estate Plan
Becoming a grandparent may be the single most exciting, and joyful, moment of your life. It also presents another opportunity to influence the life of a child. If you are a doting grandparent, you probably also want to include your grandchildren as beneficiaries in your estate plan. If so, consider the following gifting to grandchildren dos and don’ts from the Port St. Lucie estate planning … [Read more...] about Tips for Gifting to Grandchildren
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?
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
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
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
If you are new to estate planning, it can be easy to fall victim to one of the many myths surrounding the concept of estate planning. To help prevent that from happening, the Vero Beach estate planning attorneys at Kulas & Crawford discuss the top estate planning myths. Myth #1 – You Do Not Need an Estate Plan Yet One of the biggest estate planning myths is the idea that you … [Read more...] about 5 Common Estate Planning Myths Debunked
Whether you recently received a terminal diagnosis yourself, or a family member is terminally ill, the diagnosis likely caused a range of strong emotions. In the middle of all those heightened emotions, it can be difficult to think about the practical and legal steps that should be taken following a terminal diagnosis. Those steps, however, are important. The Vero Beach estate planning attorneys … [Read more...] about A Checklist for Handling a Terminal Diagnosis
Creating an estate plan is one of the most important things you will ever do, for yourself and for your loved ones. Once you have a plan in place, however, you need to make sure the documents that comprise that plan are properly stored and accessible to those who may need them. To help make sure your estate plan works as intended, the Vero Beach estate planning lawyers at Kulas & Crawford … [Read more...] about Where Should I Keep My Estate Planning Documents?