Estate Planning

New Required Minimum Distribution Rules

A few years ago, the Required Minimum Distribution (RMD) rule changed from requiring distributions at the age of 70-1/2 to 72 years.  Life expectancies are increasing (sans Covid) and the Consolidated Appropriations Act of 2023 has extended the starting age for RMDs to the age of 73 for those who turn 72 after December 31, […]

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Your Spouse Has Passed – Now What?

Your spouse has passed – what do you need to do?  Many times, there may be very little for you, as the surviving spouse, to do after the funeral.  However, everyone is different and what your relative or neighbor may have experienced is not what is true for your situation.  The list below is but […]

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New Year – New To Do List

As we move through the new year, we may have made resolutions, created a To Do list, or just have mentally thought about different things that might need attention.  Regardless of your method, one very important item that you should give priority to is to address your estate planning and to determine if it needs […]

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Scheduled 2025 Tax Changes

The 2017 Tax Cuts and Jobs Act are set to expire in 2025 and it is not too early to start thinking about those changes and how the expiration of the same may affect you.  Many Americans have become complacent with the federal tax exclusions being in the $12 million range this year and think […]

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Retirement Accounts and Second Marriages

Are you on spouse number 2 or 3 and you have a retirement account?  If so, there are certain things to keep in mind.  First of all, if you have had your estate planning completed by an estate planner or have a financial advisor/planner, you have most likely addressed this issue. But if you are […]

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Your Child Reaches the Age of 18 – They Are an Adult Now

The Fourth of July is behind us and the start of a new school year will be here before we know it.  If you are a parent with children going to school – including those headed off to college – you are probably already starting your “school” shopping.  If you have a child headed for […]

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Where Are the Originals of Estate Planning Documents That Have Been Superseded?

Hmmmm, good question.  Probably one that you have never thought about.  This issue came up for discussion during a recent departmental meeting.  As attorneys change firms, they may bring files and other documents with them to their new firm.  And, sometimes, those documents include originally signed Last Wills and Testaments of individuals who may not […]

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Don’t Make These Estate Planning Mistakes

I know that I have written in the past about estate planning, but as time passes, we see more and more issues arising from estate planning mistakes – omissions, improper forms, improper titling or non-titling of assets, and not taking special circumstances into consideration. In our day-to-day administration of estates, we encounter many challenges and […]

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Estate Planning 2021

Whether or not you follow all of the activity and talk happening in Washington, one topic that you might want to keep an ear open for is the federal estate tax discussions.  Currently, for a decedent dying in 2021, the federal estate tax exemption/exclusion is $11.7 million.  You may think that you are “safe” in […]

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Birthday Basics

You will never forget your birthday (even though you may want to). Every time you make another trip around the sun (a year), it is good to reflect on what has changed in your life and what you have accomplished. Estate planning is probably something that rarely is among these thoughts. Many people think that […]

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