Procrastination with estate planning is common, but nonetheless unfortunate. Without a proper estate plan, you risk family conflict, placing a burden on loved ones during a difficult time, and ultimately leaving less money for the people you want to provide for. Having an estate plan is like having an insurance policy—you hope you...

We did a lunch & learn last week on IRA Trusts, something you newsletter readers have read about, courtesy of me, all too often. IRAs are potentially great assets to pass on, but only if structured properly. Unfortunately, there are many pitfalls with IRAs and inheritances.

One issue that comes up a...

Ensuring your loved ones inherit part of your estate even if you need long-term care (nursing home, round-the-clock home care, etc.) is important to many of my clients. But how are you able to preserve assets in the face of nursing homes and Medicaid spenddown regulations? You might consider adding a Medicaid Trust to...

This has been under the radar for most folks, but be prepared. Last month, the U.S. House of Representatives passed the SECURE Act, a bill to change the laws on retirement savings. The U.S. Senate has taken up a similar bill, but it has not passed yet. After that, the two bodies have to...

There are many misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a tailored plan that is perfect for you and your family.

If you read our newsletter, you know it is not the first...

Let’s take a step back this edition and make sure you’re up to date on the essential estate planning components (for Pennsylvania residents). Think of estate planning like building a house. Every house needs a solid foundation, and that’s what I discuss below. However, you may require features such as a home office, an in-law...

This year, estate planners around the country are dealing with the new SECURE Act that Congress passed and the President signed into law late last year. The SECURE Act went into effect on January 1 and makes several changes to retirement plans.

For clients hoping their children or loved ones would be able to “stretch”...

Fall Estate Plan Check-Up

As we rapidly enter the Fall season, I thought it would be a good time to check back in and discuss a few estate planning concepts.

With the election season upon us, there is continued talk of what tax laws may change, and how that may affect estate planning. As...