As the calendar year comes to a close, year-end estate planning presents a vital window of opportunity to safeguard your wealth, protect your loved ones, and ensure your final wishes remain fully up to date.
A special needs trust must meet specific requirements to protect the beneficiary’s eligibility for certain government benefits. Establishing a trust is only part of the process. The document must be properly drafted and reviewed for compliance with the eligibility rules of benefits programs. After approval, the trust must be carefully administered to ensure continued eligibility for benefits.
We asked twelve of our very own estate planning attorneys one question: What’s the one piece of advice you’d give a family just starting to plan for a loved one with a disability? Their answers, submitted independently, clustered around a handful of themes.
Whether you own a lake house, ski cabin, beach property, or mountain retreat, protecting what matters most requires strategic foresight. Many property owners overlook the distinct legal and financial implications of vacation home ownership. Between asset protection, insurance requirements, and estate planning considerations, safeguarding a family legacy involves more than simply holding the deed in your personal name.
People sometimes assume a loved one can automatically step in to manage their finances or make medical decisions if they become seriously ill or incapacitated. In reality, that authority depends largely on whether important legal documents have already been put in place.
Many estates include illiquid assets that are not easily convertible into cash, such as real estate, long-term investments, or a family business. When those assets are transferred, families may face expenses without the necessary liquidity to cover them.
Estate planning fees are generally not tax-deductible, largely due to changes under the Tax Cuts and Jobs Act. However, in limited situations, certain costs may qualify for a deduction, depending on their purpose.
Estate planning is not the same as a will, though the two are closely connected. A will is one part of a broader estate plan, which can include additional tools designed to help manage your assets, protect your family, and guide decisions during your lifetime and after you pass away.
