Getting divorced and dividing up assets is no easy matter. At least you can sell a house, a car or certain other possessions and distribute the proceeds to the two ex-spouses according to ownership rights under the law. But liquidating other types of property, such as assets in a qualified retirement plan, can be more […]Continue reading
When creating estate plans, people generally take their children and grandchildren into consideration and plan accordingly. For those who would like to plan beyond the next two generations, using a dynasty trust may be the answer. A dynasty trust can preserve substantial amounts of wealth — and potentially shelter it from federal gift, estate and […]Continue reading
Health Savings Accounts (HSAs) allow eligible individuals to lower their out-of-pocket health care costs and federal tax bills. Since most of us would like to take advantage of every available tax break, now might be a good time to consider an HSA, if you’re eligible. Not only can an HSA be a powerful tool for […]Continue reading
Few things can derail your estate plan as quickly as unanticipated long-term care (LTC) expenses. Most people will need some form of LTC — such as a nursing home or an assisted living facility stay — at some point in their lives. And the cost of this care is steep. Contrary to popular belief, LTC […]Continue reading
Estate planning isn’t just about sharing wealth with the younger generation. For many people, it’s equally important to share one’s values and to encourage their children or other heirs to lead responsible, productive and fulfilling lives. One tool for achieving this goal is an incentive trust, which conditions distributions on certain behaviours or achievements that […]Continue reading
New Orleans Probate Lawyer As a top probate lawyer in New Orleans, LA knows, the estate planning process can be highly involved and sophisticated, with many legal requirements. One area of estate planning that is important to have a basic understanding of is the probate process. Probate, or succession, occurs when an individual dies, and […]Continue reading
If your college-age child is home for the holidays, it may be the perfect opportunity for the two of you to meet with an estate planning attorney to draft an estate plan for him or her. Even though college students typically don’t have many assets, it’s critical to at least have these four documents in […]Continue reading
With the holidays approaching, you might be considering making gifts of stock or cash to family members and other loved ones. By using the annual gift tax exclusion, those gifts — within generous limits — can reduce your taxable estate. Indeed, in 2023, the annual gift exclusion amount is $17,000 per recipient. (In 2024, the […]Continue reading
When it comes to estate planning, one of the most complex and often misunderstood aspects is estate taxes. Understanding estate taxes and how they can affect your estate plan is crucial to protecting your assets and ensuring that your loved ones are cared for after you’re gone. That’s why we’ve put together this guide to […]Continue reading
When it comes to securing your family’s future and ensuring that your assets are distributed according to your wishes, an effective estate plan is vital. Many people believe that estate planning is reserved for the wealthy or the elderly. However, everyone can benefit from a well-structured estate plan, regardless of age or financial status. An […]Continue reading
