Joint Ownership: Estate Planning Do or Don’t?

Estate planners often tout the virtues of owning property jointly — and with good reason. Joint ownership generally offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning concern. You must also...

A Buy-Sell Agreement Can Promote Your Estate Plan’s Objectives

If you own a closely held business, you’re probably familiar with the protections provided by buy-sell agreements. But do you know how important these documents can be to an estate plan? Because buy-sell agreements specify whether, and under what circumstances,...

A Closer Look at Durable Power of Attorney

As the COVID-19 pandemic taught many Americans, serious illness may strike at any time and any age. Of course, in ordinary times, older Americans are at risk of becoming physically or mentally incapacitated. So if you haven’t thought about who’ll handle...

When It Comes to Trusts, Silence May Be Golden

The idea of leaving a significant inheritance to your children or grandchildren may give you pause. Could the promise of wealth make your heirs act financially irresponsible or reckless? Anticipating a cash cushion, will they neglect their education or fail to pursue...

Overview of Real Estate Depreciation Changes

The Tax Cuts and Jobs Act (TCJA) included several favorable changes to the federal income tax depreciation rules for real estate. However, one intended change didn’t make it into the statutory language, and there are some potential pitfalls to avoid....

What’s Involved in Being an Estate Executor?

If you’re asked to serve as the executor of an estate, think carefully about the decision before accepting the position. Acting as an executor or administrator of an estate can involve a great deal of work, depending on assets and the complexity of the estate....