Should I Worry About Changes to the Estate & Gift Tax Exemption?

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Estate planning can get tricky, especially when dealing with online assets and complex family structures. 

As we live in a digital age and families come in all shapes and sizes, creating a plan that suits everyone’s needs is a must.

As estate planning attorneys, we understand that meeting with a lawyer for the first time can be an intimidating experience. Many people are unsure of what to expect and are nervous about the process. However, we want to assure you that our firm is a welcoming and comfortable place where you can feel at ease discussing your estate planning needs.

You might be creating a huge mess. You've worked your whole life to create this nest egg, this value, this wealth of opportunity, and it's all going to go down the drain if you don't plan accordingly. 

What is Probate Law? It's the area of estate planning that deals with the assets of a deceased person after they have passed away, and there are multiple processes. Probate is technically when you have a person who had a Will, but we use the term sort of generically. 

Your will is important. In today’s “hustle and bustle” world, it can be an afterthought—something you’re going to “get to” when you “have the time.” 

The SECURE Act made significant changes to the post-death required minimum distribution rules for individuals who die after January 1, 2020—changes which every individual who has an individual retirement plan (“IRA”) or defined contribution plan (such as a 401(k) or 403(b)) should understand when reviewing their estate plans. 

Good question. Many of our clients who run a basic Google search on estate planning prior to coming in for an initial meeting read about the benefits of Revocable Living Trusts and ask this question almost before I can finish introducing myself! Do you need a revocable living trust?