I encounter many people who don’t understand the rules of the gift tax and even more who have never even heard of a gift tax. Here are the basics of the gift tax so that you can be aware of the issue, and always consult your estate planning attorney BEFORE making a gift! The Gift […]
Gift Tax Explained Read More »
First, put down the red pen. Second, call your estate planning attorney. Can I Handwrite My Changes on the Will? A court reviewing a signed Will must determine the validity of the Will. In Texas, a Will is valid if it is typed and then signed by the person making the Will, or if it
How to Amend Your Will and Estate Plan Read More »
The number of Americans living together as unmarried partners is on the rise. As reported by the U.S. Census Bureau in 2019, more adults are delaying marriage or forgoing it altogether in favor of cohabiting–reportedly as many as 17 million people cohabit (triple the number from two decades ago). Cohabiting partners who are not planning
Cohabitation Agreements: Estate Planning for Unmarried Partners Read More »
When most people think of estate planning, they are either not sure what it includes or believe it is just creating a will, but this is not the case. Estate planning is a legal process that protects an individual’s assets and defines the financial dispensation to one’s spouse, children, or other family members. Estate planning
Essential Estate Planning Documents Read More »
There haven’t been any changes . . . yet. However, there are two proposals on the horizon receiving a lot of attention. Here’s a quick review: Lowering the Estate Tax Exemption Currently, you are only subject to the estate tax if your net worth exceeds $11.7 million dollars (the “estate tax exemption”). President Biden’s campaign
How A Change in Tax Laws Can Affect Your Estate Plan Read More »
The caregiving and supporter role often arises out of crisis. A loved one becomes disabled, or worse, unexpectedly passes away. It’s natural for family members and friends to want to help, but it’s also important to consider the legal obligations underpinning these roles. Defining “Fiduciary” Fiduciary roles often arise out of legal documents and relationships
What is a Fiduciary? Read More »
“When to update a Will” is a frequent question in my estate planning practice. I build contingencies into my clients’ Will and Trust documents so that they only need review it at certain life events. Below are important life events that trigger the need to update a Will and estate plan. Top 5 Reasons for
How Often Should I Update My Will and Estate Plan? Read More »
In estate planning, we often use Power of Attorney documents as a tool to plan for future incapacity. But with great power comes great responsibility. And power of any kind is easily abused. Thus, it’s important to carefully consider the legal effect and consequences of a Power of Attorney document. What is a Power of
Power of Attorney: How to Avoid Abuse and Financial Exploitation Read More »
In previous articles, we have talked a lot about the importance and the process of estate planning. If you are unfamiliar with the term, estate planning is the preparation of tasks that serve to manage an individual’s assets in the event of their death. At Loveland Law Firm, we take a holistic approach to estate
Estate Planning for Blended Families Read More »
It’s time to take control of your finances and business. Estate and business planning are about taking control of your situation. You have worked hard to cultivate your business. Now it’s time to make sure it is taken care of by critically thinking about your business’ future. You cannot ignore estate planning and business planning.
New Year. New You. Resolve to Plan Better For Your Business Read More »
