Instead of thinking about chocolates or flowers this Valentine’s Day, let’s focus on a practical way to demonstrate our love by creating an Estate Plan. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your particular situation, along with your goals and any long-term concerns that you may have. If you already have an Estate Plan, demonstrate your love by ensuring that the plan accomplishes your objectives. If the plan … [Read more...] about Show Your Love by Creating an Estate Plan
About Paul Gantner
What You Need to Know About SECURE Act 2.0
IRAs have become ubiquitous components of estate plans. The SECURE Act of 2019 altered the landscape for IRAs significantly. Just when advisors began to get comfortable with the new 10-year rule, the United States Treasury Department promulgated proposed Treasury Regulations early in 2022 adding additional complexity to that rule by requiring annual distributions for a non-EDB of a participant who died after their Required Beginning Date. Once again, the SECURE Act includes additional provisions … [Read more...] about What You Need to Know About SECURE Act 2.0
The Lessons from Lisa Marie
Regular readers of this blog often see articles regarding the latest celebrity whose death created a mess because their Estate Plan failed to properly protect the celebrity’s family and loved ones. It seems that an individual with fame and money could easily avoid that result; however, that’s not always the case. The fallout caused by inadequate Estate Plans of celebrities provides great lessons for Estate Planning practitioners and their clients because the drama unfolds on a public stage. … [Read more...] about The Lessons from Lisa Marie
Common Mistakes in Estate Planning – Part II
When people think about an Estate Plan, they often have tunnel vision and focus on just a few of the many considerations that influence the plan. Most individuals focus on their assets and figuring out to whom they want those assets to pass. While those things matter, thinking about the intended beneficiary and their individual circumstances also matters. Certain types of beneficiaries require additional planning. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part II
Common Mistakes in Estate Planning – Part I
Despite knowing that they should have an estate plan, many individuals look for shortcuts to creating an Estate Plan. They rely upon advice from seemingly well-intentioned individuals that if avoiding probate is their main goal and they don’t have a taxable estate, they need not seek out an attorney to create an Estate Plan. While options exist to avoid probate, probate avoidance is just one of many considerations in creating an Estate Plan. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part I
Lessons from Patagonia
Estate planning often encompasses, at least in part, business succession planning. Many individuals own family businesses with the idea of passing the business on to the next generation. Of course, the bigger the business, the more complex that endeavor becomes. Yvon Chouinard recently made headlines when he donated 98% of his $3 billion company to an Internal Revenue Code Section 501(c)(4) organization. The move saved him millions in taxes, furthered his family’s political agenda, and embodies … [Read more...] about Lessons from Patagonia
Planning for the “Silver Tsunami”
As the population over the age of 65 continues to grow, unique problems arise. For example, many seniors may have never married, or outlived their spouse and lack confidence that someone will help them make financial and health decisions as it becomes more difficult or when they become incapacitated. A qualified Estate Planning practitioner can provide guidance to address the issues unique to the solo senior. Read on to learn more. … [Read more...] about Planning for the “Silver Tsunami”
More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation
When a famous individual dies, it’s always interesting to see how they set up their estate, if they bothered to undertake estate planning at all. These cases provide great lessons for Estate Planning practitioners both about what to do, as well as about what to avoid. In some cases, even when celebrities take the time to set up a proper estate plan, things go wrong. Paul Newman’s estate represents one such situation. Read on to learn more. … [Read more...] about More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation
Understanding Undue Influence – Part II
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions for the slighted beneficiaries. These questions usually revolve around methods to have the plan overturned. Most states give clients tools to protect their carefully crafted plans, even after their death. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part II
Understanding Undue Influence – Part I
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions. Most of the time, clients have consulted with a competent attorney regarding their reasons for structuring the plan the way that they have. Sometimes, other factors are at play and the plan doesn’t represent the testator’s true wishes, but rather, another individual’s testamentary desire. That’s undue influence and there are ways to guard against it. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part I
