Estate planning attorneys are going to recommend that you have a plan in place from an early age to protect yourself and your family on a number of different levels. However, this having been said it is only logical that you would take the matter of estate planning more seriously as you get older. Inevitably you realize that there are other matters to consider as you reach an advanced age as well, and they are connected to your legacy plans because your end-of-life expenses are going to impact … [Read more...] about Expert Guidance Is Key To Estate Planning
GRAT Can Enable Tax-Free Asset Transfer
A little bit of common sense will get you a long way, and with this in mind a sensible reaction to the estate tax would be to give gifts to those who would otherwise be inheriting these assets while you are still alive. This is easier said than done because there is a gift tax in place with the same 35% rate as the estate tax. It should be mentioned that there is a $5 million lifetime gift tax exemption, but it does not help at all if you're looking for estate tax efficiency because it is … [Read more...] about GRAT Can Enable Tax-Free Asset Transfer
Honor a Soldier this 4th of July Weekend!
Dear Friends and Family, We received Dennis Cabanting’s story below, and would like to pass it on in light of the holiday weekend. We hope you and your families have a great 4th of July! Thank a Soldier or a Veteran and have a Happy Independence Day! –The Staff of Purcell & Amen, L.L.C. I'm not asking for money, just a donation of your time to welcome a soldier to St. Louis. Please read this story before you say you can't make it. His story may change your mind Dennis Cabanting was … [Read more...] about Honor a Soldier this 4th of July Weekend!
Inheritance Planning Solutions For Blended Families
When you think about estate planning during current times it is important to understand the realities of the contemporary family dynamic. A few generations ago, in the overwhelming majority of cases there would be a surviving spouse who had been married to the same person all of his or her life. The planning would involve transferring the assets from this matriarch or patriarch to his or her children and grandchildren. This was a pretty straightforward situation, and of course this scenario … [Read more...] about Inheritance Planning Solutions For Blended Families
Estate Planning: Keep Probate In Mind
One of the things that is important to recognize when you are planning your estate is the fact that there are multiple different options available to you when it comes to transferring assets to your loved ones. Many people think that estate planning equals drawing up a last will unless you are very wealthy, but this is really not the case. A lot of people are opting for revocable living trusts these days and they certainly hold some appeal. But if you are indeed going to use a last will as your … [Read more...] about Estate Planning: Keep Probate In Mind
Estate Planning & Small Business Succession
Many people who are partners in a small business would say that their financial stake in the business is their biggest single asset. The unique thing about small business ownership is that in many cases the specific skill set, experience and passion of the co-owners is something that is virtually impossible to duplicate. So when small business owners are planning for the future they can't just plan on a family member assuming their role in the business when they pass away. And at the same time, … [Read more...] about Estate Planning & Small Business Succession
Probate Attorneys: Experience Counts
Estate planning is something that the average person is not going to spend a lot of time researching, and at the risk of sounding flippant the reality is that we only die once. So, people generally don't have much experience negotiating their way through these waters. Because of this, many people don't understand the fact that your last will is not going to be passed around among your family members and then discarded. When you use a last will to transfer assets it must go through the legal … [Read more...] about Probate Attorneys: Experience Counts
Estate Planning: Relevant To All Adults
There are those who think that estate planning is something that only people who have reached their twilight years need to consider, but this is really not the case. The Grim Reaper does not send an RSVP, and though we would all like to think that we will live long robust lives there are some of us who do indeed pass away before our time. Death is simply part of the human condition and though no one embraces it, the wise course of action is to prepare for it intelligently and pragmatically so … [Read more...] about Estate Planning: Relevant To All Adults
Majority Of Americans Oppose Social Security Cuts
When you are making plans for retirement it is important to pay attention to all relevant factors because things are always changing. It is challenging enough to manage your own affairs effectively, but there are also things that take place that are out of the control of the individual that can have an enormous impact on your retirement. For a case in point look no further than the Wall Street debacle of 2008 that derailed many carefully conceived retirement plans. In addition to market … [Read more...] about Majority Of Americans Oppose Social Security Cuts
Inheritance Planning: Educational Gifts Show You Care
One of the most enjoyable things you can do is to give a gift to someone you love. When you see family members light up and look at you with a genuine feeling of gratitude after you have given that carefully selected gift the meaning of the phrase "it is better to give than to receive" really hits home. This is something that you may want to keep in mind when you're planning your estate. There is only one thing potentially stopping you from giving gifts to your loved ones while you are still … [Read more...] about Inheritance Planning: Educational Gifts Show You Care
