Although people often fail to realize it, one of the most important decision you will make when creating your Last Will and Testament is deciding who to appoint as your Executor. To help you choose the right person for the job, a Vero Beach estate planning attorney at Kulas Law Group discusses the role of an Executor. Probate Basics Over the course of a lifetime, almost everyone acquires assets … [Read more...]
Planning for Step-Children
If your spouse has biological children, you may consider them your own. But, if you haven’t adopted them, they have no inheritance rights. This article looks at how to plan for step-children.Planning for Step-Children … [Read more...]
The Importance of Communicating Your Plans
This article looks at how planning can make your passing easier for those whom you leave behind. Specifically, this article will look at the importance of communicating your plans with your loved ones to avoid disputes after your death.The Importance of Communicating Your Plans … [Read more...]
How Much is Too Much?
This article looks at the question of how much is too much to leave your children. Many people have pledged to give the majority of their wealth to charity. If you won’t leave all your assets to your children, the article provides resources for vetting worthwhile charities.How Much is Too Much? … [Read more...]
Clarity is Key to Planning
Clarity is essential in an estate plan. This article examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later.Clarity is Key to Planning … [Read more...]
Is an Inherited IRA Taxable to the Beneficiary?
Planning for retirement is much more complex in the 21st century than it was in decades past. Workers can no longer rely on employer-sponsored pensions and the future of the Social Security system remains uncertain. Consequently, more and more people are saving for their own retirement using tools such as a 401(k) or an Individual Retirement Account (IRA). If those accounts still have assets in … [Read more...]
5 Documents You Need to Review after the Loss of a Spouse
If you recently lost your spouse, you are undoubtedly dealing with the emotional impact of that loss right now. The changes that need to be made to your estate plan in light of your spouse’s death is probably not at the forefront of your mind. Nevertheless, there are some changes you should likely consider making. To help you get started, the Port St. Lucie estate planning attorneys at Kulas Law … [Read more...]
What is a GST Trust?
A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Read on to learn more about this type of trust and whether it might make sense for you.What is a GST Trust? … [Read more...]
Kiddie Tax is Worse Than Ever
The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax.Kiddie Tax is Worse Than Ever … [Read more...]
Last Will vs. Living Trust
Although your initial estate planning document will probably be a Last Will and Testament, there may come a time when you consider adding to that limited plan or even using another primary method for the distribution of your estate assets. Specifically, many people decide that a living will is a better option for distributing assets than a Will. The question then becomes, Last Will vs. Living … [Read more...]
