Using a bypass trust is another way to avoid the estate tax. In this case, Meat Loaf could have created a trust to hold an amount equal to his unused individual lifetime exclusion amount ($12.06 million), with any excess passing to his wife either outright or through a marital trust, therefore bypassing estate tax liability.
13
May
May
By the time he died, Meat Loaf had appeared in hundreds of TV shows, endearing himself to a younger generation with roles in Wayne’s World and Fight Club. He married twice, and had two children.
Estate Attorney, Estate Planning, Guardianship, Life Changes, Trusts
Update Estate Plans as often as a Resume?
06
May
May
Is everything the same today as when you signed your will, trust agreement, and other estate planning documents? If not, then take steps to make sure your estate plan reflects those changes.
California Law, Estate Planning, Estates, Life Changes, Probate, Trusts
Time for an Estate Plan Checkup?
29
Apr
Apr
Failure to take the time to craft an estate plan could leave the state where you reside at the time of your death in the driver’s seat. Laws in most states set forth how to apportion property.
22
Apr
Apr
People overlook many of these tasks and responsibilities on a day-to-day basis. However, consider how much money or time you would need to complete them if the stay-at-home parent is unable?
15
Apr
Apr
Many financial institutions allow account holders to sign documents that transfer funds immediately to another person upon the account holder’s death.
08
Apr
Apr
Most people prefer to keep this type of information private. So, the best way to ensure discreteness is to keep your estate out of probate.
01
Apr
Apr
Your estate attorney can set up joint ownership to create and transfer property. However, this solution comes with its own set of concerns. TOD and POD accounts efficiently and immediately transfer funds to the named recipient after the account owner’s death, outside of probate.
Estate Planning, Guardianship, Heirs, Inheritance, Trusts
A Supplemental Needs Trust Protects Loved Ones
25
Mar
Mar
Most people think disability affects other people. However, approximately 61 million U.S. adults live with a disability. That translates to one in four adults. What’s more, between one and four 20-year-olds become disabled before reaching retirement age.
18
Mar
Mar
We live in an increasingly digital world now. And courts increasingly determine whether a will created and stored on a computer, tablet, or cell phone and e-signed meets the traditional requirements of being “in writing” and “signed by the will maker.”