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Guardianship2

Be Specific When Indicating Who Should Become Your Guardian If And When You Need One

By David Toback |

There is more than one way to interpret the statement that estate planning is about planning for life, not just planning for death.  The websites of estate planning law firms call to mind the optimistic interpretation, where you and your spouse enjoy your retirement years in good health and give generous gifts to your… Read More »

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Deed2

Heed The Sweet Song Of Lady Bird Deeds

By David Toback |

Estate planning begins with a honeymoon period of design thinking about the ways that you can use your money to make yourself and others happy.  After that phase ends, though, and you get into details about how much everything will cost, it is easy to get mired in pessimism about everyone else’s greed.  If… Read More »

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Dispute3

The Case For Not Telling Your Children How Much They Stand To Inherit From You

By David Toback |

The promise of a desirable reward can sow discord in otherwise harmonious relationships.  If you are a member of Generation X, you probably saw the episode of the Garfield and Friends Saturday morning cartoon about the Buddy Bears, three brothers who never disagree.  The trouble starts when Garfield offers to buy them a pizza,… Read More »

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SpecNeeds

Special Needs Trusts: A Responsible Way To Provide For Family Members With Special Needs

By David Toback |

Some people are surprised to find out that, in their 30s, they are not too young to get started on their estate plans, but to the parents of children with special needs, this has been obvious since a doctor first told the parents that the child would need to depend financially on the parents… Read More »

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GarageClutter

3 Types Of Personal Property And How They Affect Your Estate Plan

By David Toback |

You may have heard the advice that decluttering is an effective form of estate planning, but you might have written it off as cheap propaganda by social media influencers who are not young and agile enough for TikTok dances, so they base their influencer persona on being tough on clutter.  You have probably heard… Read More »

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BusinessPartner2

You Can Transfer Your Ownership Interest In The Family Business To The Next Generation Outside Of Probate

By David Toback |

The limited liability company (LLC) is an increasingly popular type of business structure.  It offers a lower tax burden for its owners, and the company can have as many or as few partners as you choose; the partners can be people or companies.  The biggest reason for the popularity of the LLC business structure,… Read More »

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CollegeStudent

There Are Worse Things Than Being A Millennial Golden Girl

By David Toback |

The old generation loves to fret about how the values of millennials differ from those of Baby Boomers, but estate planning lawyers accept that everyone’s financial values are unique.  So what if you splurge on avocado toast but consider disposable dinner napkins wasteful?  You need an estate plan as much as your parents do. … Read More »

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LifeIns

Life Insurance: An Estate Plan For The 99 Percent

By David Toback |

Estate planning lawyers emphasize the importance of keeping your assets out of probate when possible.  When an asset passes to the beneficiary without probate, the beneficiary receives it more quickly and usually does not have to pay taxes on it.  Placing assets in a trust and designating certain types of accounts as transfer on… Read More »

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TinyHouse

When Your Estate Contains Historically Significant Items

By David Toback |

Making plans for non-monetary components of your estate often involves appraising their resale value, as well as the challenging task of thinking objectively about how much sentimental value the property will hold for members of your family.  Some people hold onto family heirloom personal items for decades with the understanding that junk eventually turns… Read More »

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StudentLoan

Student Debt And Your Estate Plan

By David Toback |

As going to college has become an expectation for a greater and greater number of young adults, student debt has become almost universal after those students graduate or decide, without making it all the way to graduation, that paying for college will do them more harm than good in the long run.  If you… Read More »

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