Belmont Shore

A Nonfinancial Estate Planning Checklist

Amidst the end of year rush to make the most of the gift tax exemption before it expires, a recent Wall Street Journal article reminds us that the focus should not be on wealth alone. The article lists 10 nonfinancial areas to address.  Here are six of my favorites: 1. What, if any, concerns do the

Act Now — Gift Tax Exemption

The article Is It Time to Panic About the Gift Tax Yet? by Kelly Greene was posted on the November 16, 2011 online edition of the Wall Street Journal. It advises people to act now in order to take advantage of the $5 million lifetime gift-tax exemption before Congress amends the limit again. The article also includes

2011-11-30T00:10:03-08:00November 30th, 2011|Tags: , , , , , |

Leaving a Legacy

The article Heiring Grievances was posted by Ruth Mantell on December 12 on the online edition of The Wall Street Journal. It encourages parents with multiple heirs to think about the emotional legacy they will leave behind when making decisions about inheritances. It notes two key considerations during the planning process – how parents want to

2017-02-23T01:54:33-08:00February 26th, 2011|Tags: , , , , , , |

How to Handle an Inheritance Windfall

The challenges and consequences of inheritance Leaving money or assets to beneficiaries such as your children is a wonderful gift.  It's important to plan that gift thoughtfully so that the gift can be used as you intend without causing needless conflict between your beneficiaries or lost opportunities for beneficiaries who aren't ready to handle the assets.

2017-02-23T01:50:41-08:00February 24th, 2011|Tags: , , , , |

Advance Health Care Directives

One important component to a living trust - centered estate plan is an advanced health care directive (formerly known as "living wills").  This 2010 article from the Los Angeles Times cites a study that says that over the past 15 years or so, the number of people with health care directives has risen from 20% to

The Missing Link in Your Estate Plan

This article from the Wall Street Journal and Smart Money magazine briefly discusses the benefits of creating a Letter of Last Instruction.  This is a document that you would prepare along with your estate plan to give your children or other loved ones guidance on how to help if you pass away or become incapacitated.  The

2017-02-23T01:51:11-08:00February 20th, 2011|Tags: , , , , |

Top 5 Reasons To Beware Of Joint Ownership Between Generations

This article entitled "Top 5 Reasons To Beware Of Joint Ownership Between Generations" was in the September 13, 2011 online edition of Forbes magazine. It describes some good reasons to be wary of co-ownership between generations. When I am presenting educational seminars regarding estate planning to the public or continuing education presentations to attorneys, I am

Create a Plan to Pass On the Family Cottage

This below article titled "Create a Plan to Pass On the Family Cottage" was in the  September 6, 2011 edition of the Wall Street Journal.  It describes a number of approaches that families and estate planners can use to keep homes in the family.  Some highlights are below... Helen Tanner's lakeside cottage in Beulah, Mich., was built

2017-02-23T01:53:10-08:00February 6th, 2011|Tags: , , , , , , |

Taking Care of Disabled Heirs

This article titled "Taking Care of Disabled Heirs" was in the September 6, 2011 online edition of the Wall Street Journal.  Those of you who have loved ones with special needs might click on the link to this article to get an idea of the considerations and issues you and your estate planning attorney might need to