Protect Your Family with an Estate Plan
57 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Scooped by Erik Hartstrom
Scoop.it!

Why your IRA shouldn’t go in your trust – Estate Planning Pros Blog

Why your IRA shouldn’t go in your trust – Estate Planning Pros Blog | Protect Your Family with an Estate Plan | Scoop.it

You want to take the best advantage of your IRA, with its deferred tax structure. You may think that your chosen beneficiary will operate the IRA under the same rules as you do – and unfortunately that is not the case. The critical question is the “measuring life” for the IRA account. IRA’s have what are called “required minimum distributions” and those are based on the value of the account and life expectancy tables set by the IRS. When your beneficiary inherits your IRA the question becomes whose life will be the “measuring life” for the account.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Voices: Michael Foltz, on Planning for State Estate Taxes - Wall Street Journal

Voices: Michael Foltz, on Planning for State Estate Taxes - Wall Street Journal | Protect Your Family with an Estate Plan | Scoop.it
Wall Street Journal
Voices: Michael Foltz, on Planning for State Estate Taxes
Wall Street Journal
Voices is an occasional column that allows wealth managers to address issues of interest to the advisory community.
Erik Hartstrom's insight:

We're fortunate here in California that our estate taxes mirror the federal estate taxes, meaning the current $5.25 exemption applies to state taxes as well.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

How do I change my trust?

How do I change my trust? | Protect Your Family with an Estate Plan | Scoop.it
Remember that dusty estate plan you have sitting in your drawer?  The binder with your will naming Uncle Henry as executor, except that he’s not around anymore?  Time for an update on your estate planning documents.  What are your options?
Erik Hartstrom's insight:

Just because you can change doesn't mean most people will change it.  When you do want to change your estate plan, what are your options?

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Wills, Trusts & Estates Prof Blog

Wills, Trusts & Estates Prof Blog | Protect Your Family with an Estate Plan | Scoop.it
Information about the Law Professor Blogs Network. (MLK Speech Not in the Public Domain via Wills, Trusts & Estates Prof Blog - Martin Luther King's ...
Erik Hartstrom's insight:

Managing a family legacy is a tricky business... and potentially a profitable one.  In this case though, something so iconic seems like it should belong in the public domain like a shared dream.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Estate Planning Assistance for Families Dealing With Medical Hardships - AARP

Estate Planning Assistance for Families Dealing With Medical Hardships - AARP | Protect Your Family with an Estate Plan | Scoop.it
At some point, many families will confront a medical or personal-care expense that’s beyond what they ever could have imagined. (Have a loved one with special needs?
Erik Hartstrom's insight:

Aging can be a challening time.  Creating a Durable Power of Attorney and an Advance Health Care Directive gives direction on how you want to be cared for in the event of incapacity.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

How To Kill An Irrevocable Trust

How To Kill An Irrevocable Trust | Protect Your Family with an Estate Plan | Scoop.it
What to do if your trust has stopped making tax sense.
Erik Hartstrom's insight:

Irrevocable trusts can serve a valuable purpose by protecting the beneficiaries from creditors, and potentially avoiding estate taxes.  What do you do when your irrevocable trust loses its purpose?

more...
No comment yet.
Rescooped by Erik Hartstrom from Mortgage - Real Estate
Scoop.it!

Do Record Profits Mean An End to Fannie Mae Conservatorship?

Do Record Profits Mean An End to Fannie Mae Conservatorship? | Protect Your Family with an Estate Plan | Scoop.it
Government mortgage giant credits housing recovery for improvement in its financial outlook.

Via Steph OToole
Erik Hartstrom's insight:

Either way will taxpayers be happy?

more...
Steph OToole's curator insight, April 4, 2013 12:31 PM

"But just because Fannie Mae is profitable doesn't mean there's an end to its government conservatorship in the near future. According to Fannie Mae spokesman Pete Bakel, that's a policy decision lawmakers must address when it comes to how housing finance will look in coming years."

Scooped by Erik Hartstrom
Scoop.it!

Why People Avoid Estate Planning (Infographic) - Dana Law Firm

We wanted to discover some of the reasons why people avoid estate planning. So we gathered a few statistics from around the web and put them in this infographic.
more...
No comment yet.
Rescooped by Erik Hartstrom from Winnipeg Market Update
Scoop.it!

Why small REITs could be big

Why small REITs could be big | Protect Your Family with an Estate Plan | Scoop.it
Investors who look beyond the major players can find trusts that offer good returns, nice yields

Via Kyra Winfield
more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

ESTATE PLANNING: Oral statements aren't a substitute for a will - nwitimes.com

ESTATE PLANNING: Oral statements aren't a substitute for a will - nwitimes.com | Protect Your Family with an Estate Plan | Scoop.it
ESTATE PLANNING: Oral statements aren't a substitute for a will
nwitimes.com
2013-03-16T09:10:00Z ESTATE PLANNING: Oral statements aren't a substitute for a willChristopher W. Yugo Times Business Columnist nwitimes.com.
more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Estate Planning for Regular People

Estate Planning for Regular People | Protect Your Family with an Estate Plan | Scoop.it
You might think that only celebrities and big shots need estate planning, but that couldn't be further from the truth. You might need it, too.
Erik Hartstrom's insight:

Great title!

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Estate planning not only for the wealthy - Hometownlife.com

Estate planning not only for the wealthy - Hometownlife.com | Protect Your Family with an Estate Plan | Scoop.it
Estate planning not only for the wealthy
Hometownlife.com
At one of my recent library speeches, I was asked if estate planning is important now that the estate tax exemption has risen to over $5 million.
more...
No comment yet.
Rescooped by Erik Hartstrom from The Amazing Compilation Of Website
Scoop.it!

Probate Litigation and Adverse Possession

Probate Litigation and Adverse Possession | Protect Your Family with an Estate Plan | Scoop.it

Squatters can take homes by just living there. Why this is important to Trust Litigation


Via Sheena Paayao
more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Home >&nbspPROBATE PROCEEDING, WILL OF EMILY KOLBE, Deceased. - New York Law Journal (registration)

Home >&nbspPROBATE PROCEEDING, WILL OF EMILY KOLBE, Deceased.
New York Law Journal (registration)
PROBATE PROCEEDING, WILL OF EMILY KOLBE, Deceased. (1358/12) — This is an uncontested proceeding to probate a lost will.
Erik Hartstrom's insight:

A lost will can be a real problem.  Fortunately in this case, the matter was uncontested, and a good copy was available.  Make sure your beneficiaries know where your estate planning documents are, and that the executor can get to them easily.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Making Sure Your End-of-Life Wishes Are Followed

Making Sure Your End-of-Life Wishes Are Followed | Protect Your Family with an Estate Plan | Scoop.it
Often confusing state rules govern how medical care is provided in life-threatening situations.
Erik Hartstrom's insight:

Some excellent tips on creating binding instructions for end-of life care.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Last Will and Testament a reminder that each day is precious

Last Will and Testament a reminder that each day is precious | Protect Your Family with an Estate Plan | Scoop.it
  Please indulge me a moment of introspection and feel free to think along with me. Chances are what I am going to say may apply to you as well.
Erik Hartstrom's insight:

Key graph: Much of what will be said in my name when I am gone is as foreign to me as Swahili slang. It is designed to satisfy the legal hoops one must jump through in order to leave one’s heirs what one rightfully worked ones buns off to earn. I love my country and the Great State of Georgia, but I don’t love them enough to give them one penny they don’t deserve. They certainly didn’t earn it. I did."

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Do I Need to Consider Estate Taxes? | Northwestern Mutual

Do I Need to Consider Estate Taxes? | Northwestern Mutual | Protect Your Family with an Estate Plan | Scoop.it
Learn why all adults need an estate plan and which life events often require additional estate tools or updates to existing documents. (Some states have estate tax exemptions well below federal level impacting your estate planning.
Erik Hartstrom's insight:

For people worried about estate taxes this is a good short video that explains who should be worried about them, and what to do about them.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Organizing is a key part of estate planning - Santa Rosa Press Democrat

Organizing is a key part of estate planning
Santa Rosa Press Democrat
An estimated 120 million Americans don't have an up-to-date estate plan, according to the National Association of Estate Planners & Councils.
Erik Hartstrom's insight:

I would agree: "Financial experts say you can save your loved ones a lot of time and angst by organizing important documents before you die and letting someone you trust know where to find them."

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Dementia tops cancer, heart disease in cost

Dementia tops cancer, heart disease in cost | Protect Your Family with an Estate Plan | Scoop.it
By Marilynn Marchione, Associated PressCancer and heart disease are bigger killers, but Alzheimer's is the most expensive malady in the U.S., costing families and society $157 billion to $215 billion a year, according to a new study that looked at...
Erik Hartstrom's insight:

Have you protected yourself with basic incapacity documents?  One way to avoid additional costs to yourself and your family is by having good planing so your family won't have to file a conservatorship in the event of dementia or other incapacity.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Debasement of the Core Idea of a Trust and the Need to Protect Third Parties by Anton Van der Linde :: SSRN

Debasement of the Core Idea of a Trust and the Need to Protect Third Parties by Anton Van der Linde :: SSRN | Protect Your Family with an Estate Plan | Scoop.it
Whenever the trust idea is debased, it seems that the courts would rather give ad hoc relief to third parties through methods appropriate to each case. In Parke
Erik Hartstrom's insight:

For those who want to get into the weeds of when a creditor or third party can access trust assets.

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

How Important is Estate Planning? More Than You Know - Mays Financial

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Estate Planning: Trustee compensation – when and how - Lake County News

Estate Planning: Trustee compensation – when and how
Lake County News
M. tax studies), is a State Bar Certified Specialist in Estate Planning, Probate and Trust Law. His office is at 55 First St., Lakeport, California.
more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Where there’s a Will… | |

Where there’s a Will… | | | Protect Your Family with an Estate Plan | Scoop.it

One of the first questions I ask any new client I meet is, do you have a Will? If so, when was the last time you looked at it?

more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

Tip of the Week

Tip of the Week | Protect Your Family with an Estate Plan | Scoop.it
Money Saving Tip — Get FPA's Tip of the Week regarding financial planning. (FPA Tip of the Week: Questions to Ask an Estate Planning Attorney.
more...
No comment yet.
Scooped by Erik Hartstrom
Scoop.it!

From Grief Comes A Mission To Make Estate Planning Less Daunting - NPR

From Grief Comes A Mission To Make Estate Planning Less Daunting - NPR | Protect Your Family with an Estate Plan | Scoop.it
NPR
From Grief Comes A Mission To Make Estate Planning Less Daunting
NPR
The Seattle mother of two launched the bluntly written, one-stop estate planning site after her husband was fatally injured in a biking accident.
Erik Hartstrom's insight:

Young families often think estate planning is for rich old people.  Nothing could be further from the truth.  

more...
No comment yet.