Many individuals have the desire to pave the way for their younger family members educationally. Setting aside resources for college can be done in various ways, and the best choice will vary on a case-by-case basis. The intelligent way to proceed is to sit down and discuss your unique situation with a northern Kentucky estate planning attorney who is apprised of all of the options that are available to you. When you do you will probably hear about 529 plans. These are savings plans that have … [Read more...] about Tax Efficient College Savings Plan
When Dementia Strikes, Who Makes The Decisions?
Being aware of the challenges that often confront senior citizens is important when you are planning for the eventualities of aging. Along these lines, you should know that the segment of the population that is 85 years of age and older is growing faster than any other. And given the capabilities of medical science, we expect lifespans to continue to expand. When you reach an advanced age, you become more vulnerable to Alzheimer's disease. As you probably know, Alzheimer's causes dementia; and … [Read more...] about When Dementia Strikes, Who Makes The Decisions?
Be Proactive About Protecting Your Assets
Acting with the future in mind can be the key to financial success, which is why it is important to develop an ongoing working relationship with a northern Kentucky estate planning lawyer early on during your working career. By taking action in advance you can circumvent potential difficulties before they happen, and with this in mind, you may want to be proactive about protecting your assets. When you have sufficient wealth, you may want to position it so it cannot be attached by creditors or … [Read more...] about Be Proactive About Protecting Your Assets
Value Of Dick Clark Estate May Be Eroded Considerably
If you are not aware of the extent of the federal estate tax, the details may come as something of a shock to you. The powers that be are potentially poised to consume an enormous portion of your resources after you pass away, and as a case in point, look no further than the estate of the entertainment impresario Dick Clark. Clark passed away a very wealthy individual, with an estate that is estimated at well into the hundreds of millions of dollars. The estate tax exemption is currently $5.12 … [Read more...] about Value Of Dick Clark Estate May Be Eroded Considerably
Comprehensive Planning For Service Members
People who serve in the military make significant sacrifices to keep us safe, and we're all very grateful to them for doing so. They often spend significant time away from their families and are forced to live under harsh conditions. And of course they can oftentimes be placed in harm's way, and it takes a lot of bravery to face the possibility of physical harm each and every day. Given the circumstances, it is very important for military members to have an estate plan in place. Estate … [Read more...] about Comprehensive Planning For Service Members
Being Prepared For Probate
The typical layperson probably does not know much about the estate planning process. He or she may know what a last Will is meant to accomplish but not know how a last will is handled. If you do set out your final wishes by executing a last Will, it is not going to be a private family matter. Because you may have outstanding debts or financial claims against you at your death, individuals or entities have an opportunity to recover from the estate; and if someone wants to contest the Will, he … [Read more...] about Being Prepared For Probate
White’s Dog Pontiac Could Afford A Rolls
Making provisions for the care of your pet after you pass away is something to consider when you are planning your estate. Obviously, if you are a young adult it is very likely that you will outlive your pet. However, precautionary planning can make sure that you have some type of contingency plan in place. Of course, senior citizens who own pets are in an entirely different position. Pet ownership can be wonderfully beneficial, but you do have to make sure that your pet will have a home should … [Read more...] about White’s Dog Pontiac Could Afford A Rolls
Have You Considered Becoming An Organ Donor?
There was a time when you could be provided with a certain diagnosis by your doctor that was equivalent to a death sentence, but these days medical science is capable of some amazing things. Certain failed organs can be transplanted, and thousands of lives are saved every year through successful transplant surgeries. One of the primary challenges lies in the fact that there are always more people in need of transplants than there are available donors. With this in mind, when you are … [Read more...] about Have You Considered Becoming An Organ Donor?
Your Estate Plan Should Be Custom Crafted
There is a difference between purchasing custom-crafted merchandise and buying something that is mass-produced. People who understand quality want the best and they don't want to settle for less. This makes sense because quality products generally last longer, typically work better, and are more enjoyable to utilize. This quality paradigm is ratcheted up to another level of importance when you consider your estate planning efforts. While it is possible to download a generic last will form off … [Read more...] about Your Estate Plan Should Be Custom Crafted
There’s More To Generosity Than Meets The Eye
Taxes are controversial, and though most people accept that tax revenue is necessary to support our societal infrastructure, you probably don't want to be taxed at every turn, and you probably don't want to be taxed twice on the same income. With this in mind let's take a look at the federal gift tax. You may not realize that some gifts that you give to your loved ones are taxable. The reason why you don't get a bunch of IRS bills in your mailbox around the holiday season is because there is a … [Read more...] about There’s More To Generosity Than Meets The Eye
