Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys No day is typical on a ranch. Things always seem to come up that force you to change your priorities, whether it's a cow in trouble as she gives birth, an implement that needs repairs, or harvesting a crop before the weather turns. Ranching is not an easy life, but if it's your life, there's probably no other way you'd rather make a living. You've paid your dues, and you gladly cope with the ups and downs of … [Read more...] about Leaving a Ranching Legacy

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys As we retire and get ready for the next stage of our lives, many of us have a plan in place outlining what we wish to leave to our sons, daughters, grandchilden, or other loved ones, or perhaps to charity. It's imperative to review your estate plan periodically, especially if you or your spouse are getting on in years, or if your health is failing, to ensure that it continues to meet your goals. Time usually … [Read more...] about There’s No Time Like the Present to Review your Plans

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Estate planning. It's on everyone's "should do" list, but it rarely seems to make it to the top of the "to do" list. Maybe that's because estate planning is surrounded by myths and misconceptions. People think it's only for the wealthy, or only for the elderly. The truth is, everyone needs some form of estate planning, because estate planning is life planning. Let's do away with five common estate planning … [Read more...] about Five Estate Planning Myths

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys With the fiscal cliff looming, Congress passed the American Taxpayer Relief Act of 2012 on January 1, 2013. This law averts a number of the automatic tax increases set to take effect at the beginning of this year. If you’re among the 77% of Americans who are affected by the end of the Payroll Tax Cut, you’ve likely noticed a slight decrease in your paycheck. The social security payroll tax returned to 6.2% this … [Read more...] about How the American Taxpayer Relief Act Will Affect You

Loaning Family Money – What You Need To Know Written By: The American Academy of Estate Planning Attorneys People lend money to family members for a variety of reasons. For example, lending your son money to buy his first home, or lending your daughter money to start a new business. At some point, you may find yourself in a similar situation. Therefore, it is important to know how this will impact you from a tax standpoint. Are you charging the borrower interest on the loan? If so, you must pay … [Read more...] about Loaning Family Money – What You Need To Know

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys www.aaepa.com • blog.aaepa.com Your first meeting with an estate planning attorney may seem a little daunting, especially if you’ve never consulted an attorney before. There’s no need to worry, however. This meeting is just a conversation in which your attorney will find out about you, your family, and your goals. After you’ve shared this information, your attorney will be able to recommend a range of … [Read more...] about What to Expect at Your First Estate Planning Consultation

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Not long ago, wives were “silent partners” when it came to estate planning. Husbands were the ones in charge of long-term planning and major financial decisions. In fact, estate planning attorneys often advised wealthy men to leave their assets in trust for their wives, so that a trustee other than their wife could manage and preserve the family fortune. It was assumed that a widow would not have … [Read more...] about Five Things Every Woman Should Know About Estate Planning

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys One of the biggest myths about estate planning is that it is something only wealthy people need because the only reason for having an estate plan is to minimize estate taxes. The truth is, estate taxes are only a tiny piece of the estate planning puzzle – and every adult needs an estate plan. Here are just a few non-tax reasons to plan: Put the Appropriate People in Charge. An estate plan allows you to … [Read more...] about Five Non-Tax Reasons You Need an Estate Plan

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys The holiday whirlwind is over, you’ve packed up the decorations, and life is settling into its familiar routine. Your thoughts are likely turning to the coming year, and the things you’d like to accomplish over the next twelve months. Maybe you have ten pounds to lose. Perhaps you want to learn a new language, or set aside more time for family and friends. No matter what your resolutions are this New Year, … [Read more...] about This New Year, Resolve to Review Your Estate Planning Options

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Avoid Information Overload Estate planning is a complex topic, and it can involve abstract concepts that are only familiar to experienced estate planning attorneys. If you Google “estate planning,” “will” or “living trust,” you’ll likely be faced with information overload. You’ll have mountains of loosely related bits of information, but no real way to connect all the dots to form a clear picture of what you … [Read more...] about What You Should Know About Seminars on Wills & Living Trusts