One of your first considerations should be where to keep your money. When you move abroad, you will most likely need to open a bank account in the new country in order to pay local bills. An increasing number of people are retiring on foreign shores. If you’re thinking about…
What is the $5 million federal estate-tax exclusion, and how does it work? Now that "tax time" is over for many Americans, the subject of taxes may not come up as often. In fact, when it comes to the estate tax you may not think about it until you sit…
"This plant will definitely outlive me," said Ms. Scoratow, a landlady who is 63 years old and in good health. "After I pass, I don't want her to go unloved." Your estate plan should include everything that is dear to you. Once you are gone you'll want to make sure…
Estate planning isn't exactly my idea of fun, but it's absolutely necessary. Just like you're planning for retirement, you need to plan for the inevitable. If you have taken the vow of “until death do us part,” have you considered what will happen if you are no longer here? Does your…
I think it’s important for people to understand the consequences of inattention to legal matters and of not involving an attorney. “Penny wise and pound foolish” can be a particularly compelling adage when dealing with legal matters. More often than not, when an estate plan fails and litigation follows it…
When her son recently turned 18, Lisa Kirchenbauer and her husband had him sign papers to take control of an account for minors they had long ago set up as a college fund – which had grown to about $60,000. "What if I ran out and bought a car with…
Knowing these objectives help both the couple and their estate planner determine what might be the best way to structure their estate plan. Below are eight of the most common estate planning objectives that influence a couple’s estate plan. Planning for just you and your hopes takes a lot of…
The vast majority of estate planning lawyers get requests for trusts that "motivate responsible behavior by the next generation," said Los Angeles lawyer Jon Gallo, who presented an overview of the topic at the annual Heckerling Institute on Estate Planning. If you are leaving behind an inheritance for the good…
How do I know what kind of caregiver my family member needs?How do I go about finding a home caregiver?What if I prefer to hire someone myself? Choosing care for an elderly loved one can be challenging as it requires much research and thought. Their needs will determine the type…
It may take some expert help to work out how to pass the pieces to your heirs. Parents' collectibles can hold emotional meaning for adult children, and some collections carry financial value as well. Estate planning is all about deciding how to dispose of your assets, but when it comes to assets, collections can…