Offered by Michael A. Dolan – Dolan & Associates, P.C. Estate planning is more than avoiding probate and saving taxes. A properly designed estate plan can provide so much more to protect your family. Most of these protections are ignored in cookie-cutter, form driven estate plans. For example… Mary and Bill were good parents, and… Read more »
Posts Tagged: Estate Planning
Protect Your Family! (Part 3 of 6)
Offered by Dolan & Associates, P.C. Bill and Jane’s daughter has struggled since the accident. She was only 13 when it happened, but it was clear she would be disabled for the balance of her life. Now 23, she is dependant upon government assistance for her survival and medical care. Bill and Jane thought they… Read more »
Protect Your Family! (Part 2 of 6)
Offered by Dolan & Associates, P.C. When Bill and Jane learned of Bill’s illness they sought legal advice. The lawyer they spoke with told them to put everything in joint tenancy, because “it is simple and avoids probate.” They weren’t comfortable with that advice and sought advice from a counseling-oriented attorney who took the time… Read more »
Protect Your Family! (Part 1 of 6)
Offered by Dolan & Associates, P.C. Estate planning is more than avoiding probate and saving taxes. A properly designed estate plan can provide so much more to protect your family. For example… Mary had been through so much with Bill’s illness. After almost a year, it had taken him from her. Then came the accident…. Read more »
Did The New Tax Act Affect Your Estate Plan?
Offered by Dolan & Associates, P.C. In December, Congress passed the Tax Cuts and Jobs Act which made significant tax law changes. The changes to the death tax in the Act will not affect most Americans. The Act increases the exemption from paying estate tax to $11.2 million per individual. Any amount over the exemption… Read more »
But, They Told Me How to Do It on TV!
Offered by Dolan & Associates, P.C. Estate planning can be a confusing subject. Its blend of tax mystery, probate formalities, dealing with disability and numerous different types of documents can be overwhelming for people considering addressing the subject. It is only human nature for us to look for an easy solution or a quick fix…. Read more »
10 Mistakes People Make When Dying (Part 3 of 3)
Offered by Dolan & Associates, P.C. Here is the final segment of the top 10 common mistakes people make when they die: Misunderstand Beneficiary Designations. Beneficiary designations are often used in planning but can have unintended consequences if misunderstood. Beneficiary designations override the instructions left in your will or trust. They also do not allow… Read more »
10 Mistakes People Make When Dying (Part 2 of 3)
Offered by Dolan & Associates, P.C. Below is the continuation of the top 10 common mistakes people make when they die. Focus on Taxes. Spending too much time and energy focusing on tax implications and overlooking critical family issues that arise upon death can cost you and your family much more than what you would… Read more »
Will Your Plan Destroy Your Family?
Offered by Dolan & Associates, P.C. Over a 20-year period, The Williams Group interviewed 2,250 families who actually went through the estate transfer process. The study found that 70% of the families lost family harmony and wasted assets in the settlement of the estate. The issue that undermined the successful implementation of the estate was… Read more »
Living Trusts Are More Expensive Than Probate
Offered by Dolan & Associates, P.C. Many people believe that if you use a living trust to plan your estate, that it avoids probate and costs less to administer after your death. Unfortunately, the truth is that living trusts usually end up failing to avoid probate and result in your family bearing the cost of… Read more »
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