If you or a loved one has recently been diagnosed with a serious disease, it’s a good idea to review your estate planning documents and adjust them to reflect the diagnosis. For instance, if someone is diagnosed with the early stages of Alzheimer’s disease – or any other disease that could affect cognitive functioning down the road – it’s wise to expedite your estate planning. Sign documents as soon as possible, while mental competency is not

Many people are concerned about their aging parents and want to talk with them about estate planning, but this can be a difficult conversation to have. Frequently, parents don’t want to discuss the subject because they don’t like thinking about their own death, and because they’re afraid that estate planning will involve a loss of independence and control. Also, children may be afraid that bringing up the topic will make them seem greedy. Yet this is

When it comes to making a will, most people have a sense of how they want to divide their major financial assets among their heirs. But people often don’t put much thought into how to divide their personal property – particularly property that isn’t worth much economically but is rich in sentimental value, such as a wedding dress, a war medal, or a photo album.

If you’re thinking of signing a prenuptial agreement – or if you know someone who is – it’s a good idea to have an estate planner review the document. Most people think of prenuptial agreements as spelling out what will happen if a couple get divorced. But in fact, most prenuptial agreements also state what will happen if one spouse dies while the couple is still married. In actual practice, prenuptial agreements come into play as much as

People often move to another state after they retire. In the past, this was usually to take advantage of a better climate or to be closer to friends and family. But these days, moving is often a good form of estate planning. One reason is state estate taxes. These used to be tied closely into the federal estate tax system and largely a non-issue. But for several years now state estate taxes have been “uncoupled” from

Almost three million children in the U.S. between the ages of 5 and 15 have special needs, according to the latest Census figures.  Parents of these children need to use extra care in planning their estates. For most people, estate planning is about making sure your assets go where you want them to, and minimizing inconvenience and taxes along the way.  But parents of special needs children face an additional challenge because they have to make

 A new law in Nevada could benefit people all over the country who want to reduce estate taxes and protect assets from creditors. The law allows anyone in the U.S. to create a “restricted” limited partnership or limited liability company in Nevada. In general, putting assets into an LP or LLC can be a good idea. You can then give membership units, or shares, in the LP or LLC to your heirs each year. Ordinarily, you

Years ago, when someone passed away, their loved ones could often access all the documents they needed with a simple key to a safe deposit box. Now however, many aspects of people’s lives – both financial and personal – are online in places accessible only by password. This includes e-mail accounts, PayPal accounts, online banks and brokerages, automatic bill-paying arrangements, and even Facebook pages and photo collections.

Many parents make gifts or loans to their children. Often they give more money to one child than to others, perhaps because one child has a greater need. If you do make a significant gift or loan to one of your heirs, you should modify your will to address it. The reason: If something happens to you, it might be unclear to your heirs what the effect of the gifts or loans should be on their

Almost three million children in the U.S. between the ages of five and 15 have special needs, according to the latest Census figures. Parents of these children need to use extra care in planning their estates. For most people, estate planning is about making sure your assets go where you want them to, and minimizing inconvenience and taxes along the way. But parents of special needs children face an additional challenge because they have to make