Trust-Based Estate Planning As you know, tax returns for 2017 were due on October 15, 2018. The end of the year is quickly approaching. So, maybe you’re ahead of the game and have already started gathering data to file for 2018? But if you live in the real world like the rest of us, you […]
Author Archives: Skvarna Law
As the end of the year approaches consider the changes you may need to make to your estate plan. Have you gotten married or divorced over the past year? Perhaps you’ve welcomed a new child or grandchild? Or has your health changed? So much can happen in a year, it’s important not to let too […]
Part 2 of a 2-Part Series Last week, we started a series about how failure to plan for incapacity could lead to serious consequences. To review that blog, click here. This week, we conclude by discussing how to plan for something you may not have considered, incapacitation. The components of your plan that impact incapacity […]
Part 1of a 2-Part Series Why Ignoring the Importance of Incapacity Planning Could Lead to Serious Consequences For reasons no one can quite understand or explain, deaths spike during the holidays. Weird, we know. But while we’re on the subject, we might as well address the elephant in the room; despite careful planning, you may […]
Estate planning is an ongoing process instead of a one-time transaction. In the same way you never stop budgeting, saving, and investing in life, estate planning is a lifelong endeavor. Let’s look at some of the considerations you should make now that the 2018 midterm elections are over. Planning in a Fluctuating Political Climate
Your retirement account provides good asset protection. However, as soon as you pass that account to a loved one, the associated protection evaporates. This means that just one lawsuit can make the entire thing disappear! If this occurs, your life-long, hard-earned savings could be wiped out, leaving your heirs penniless. But, never fear. Your estate […]
Believe it or not, the end of the year is rapidly approaching. So, now is the time to take a moment and start preparing your year-end tax planning for 2018. This is extra important this tax year because of the changes to the tax law which became effective in 2018. As a result, your taxes […]
With several months left before the new year, fall is the perfect time to review your estate planning affairs. Below is a checklist to ensure your planning meets your needs and is up-to-date: When did you last update your Power of Attorney (POA)? A valuable legal document, no matter what the circumstance A POA is […]
Receiving an inheritance is a huge blessing. However, it it is not handled properly, it could become a curse. For example, often times, the inheritor does not know what to do with the new asset and runs into financial trouble. Without care, inheritors can squander most, if not all of the inherited funds. In such […]
A poor health diagnosis or need for major surgery can disrupt your day-to-day life. So, estate plans are likely far from top-of-mind. Despite the fact you have much to contend with due to such taxing demands, it’s crucial to consider estate plans in times of change. In fact, proactive planning can ease you and your […]