The person you choose to be the executor of your estate could be a relative, trusted friend, or even a professional such as an attorney or financial planner. In some cases, your choice for executor may be very clear to you. If your spouse, for example, already knows your finances…
Like the quarterback of a football team, the executor of your estate is the person who calls the shots for and passes your estate through probate. Deciding who to “draft” for this role requires a lot of careful forethought. This post will focus on some of the responsibilities of an…
In the last post, I began writing about global families and estate planning for non-U.S. Citizen spouses. Today I will write about planning for international assets and bequests. Planning for International Assets and Bequests Because estate planning laws can vary greatly between countries, understanding the legal intricacies of your home…
Estate planning can be overwhelming for many people, and it can be even more complex for today’s global families with international loved ones or with assets outside of the United States. For instance, someone whose spouse is not a U.S. citizen must keep unique legal considerations in mind while creating…
For those born between 1981 and 1995, estate planning may be associated with older generations and with being very wealthy. However, many millennials are at the age where they may be starting their own families or caring for aging parents. As millennials take on more responsibility in caring for loved…
In the last post, I wrote about some of the complexities of art in estate planning as well as some strategies to consider if art assets are a part of your estate plan. Here are some things to consider when it comes to tax implications and valuation in relation to…
When it comes to the world of art, its value goes beyond simple aesthetics or price. Art realizes a legacy for artists, collectors, investors, and dealers as well as for their loved ones. Stories of individuals such as James Gandolfini, James Brown, and Doris Duke serve as cautionary tales of…
If you are prioritizing charitable giving in your estate plan, you may want to consider using something called a donor-advised fund (DAF) which has become more popular in recent years. The value of DAF grants made to qualified charitable organizations increased 9% to $52.16 billion in 2022, and the number…
One way that a party may challenge a will during a will contest is to assert that undue influence was exerted over the decedent by the party who benefits from the disputed will. This raises the question: What is undue influence, and what proof is needed to demonstrate its presence?…
The beginning of a new year is an excellent time to take a new look at your current estate plan or to create one for the very first time. Here are some specific opportunities to consider in 2024: Increased Estate, Gift, and Generation-Skipping Transfer Tax Exemptions The estate, gift, and…