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Home / Archives for Estate Planning

Estate Planning – Something You Shouldn’t Do Yourself

April 26, 2022 by Michael O'Brien

It’s tempting to think that by taking the time to hand-write your Will or preparing a do-it-yourself plan, you can avoid many of the issues that arise with a Will. In fact, the opposite may be true. By handwriting your Will or preparing a do-it-yourself plan, you may be creating more issues for your family. Read on to learn more. … [Read more...] about Estate Planning – Something You Shouldn’t Do Yourself

Filed Under: Legal Education, Estate Planning, consumer

Application of the Updated Life Expectancy Tables

March 22, 2022 by Michael J. O’Brien, Estate Planning Attorney

Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue Service. The Internal Revenue Service recently updated those tables which will significantly impact certain taxpayers. Read on to learn more. … [Read more...] about Application of the Updated Life Expectancy Tables

Filed Under: Legal Education, Estate Planning, consumer, Retirement Planning Tagged With: Uniform Life Table, income taxation, applicable distribution period, Eligible Designated Beneficiary, Employee Retirement Income Security Act, Individual Retirement Accounts, Required Minimum Distribution, Setting Every Community Up for Retirement Enhancement Act of 2019, Estate Planning, Single Life Table

The Importance of Insuring Real Estate

November 11, 2021 by Michael O'Brien

Insuring Real Estate

Transferring real estate to a trust has become a widely used tool in estate planning.  Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences.  With careful planning, you can avoid these traps. Read on to learn more. … [Read more...] about The Importance of Insuring Real Estate

Filed Under: Estate Planning, tax, Legal Education Tagged With: real estate, trust, attorney, consumer, quitclaim deed, title insurance, warranty deed, Estate Planning

Tax Proposals Could Alter Estate Planning Landscape

June 18, 2021 by Michael J. O’Brien, Estate Planning Attorney

Planning

Senators Sanders and Whitehouse have introduced legislation in the Senate which would significantly alter the Estate Planning landscape. It would dramatically change the tools we use to plan for our clients. Time is of the essence. Read on to learn more. … [Read more...] about Tax Proposals Could Alter Estate Planning Landscape

Filed Under: Legal Education, Estate Planning Tagged With: Estate Planning, attorney, consumer

Updating Your Plan: Your Trust or Will

February 3, 2021 by Michael O'Brien

trust

As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including your primary vehicle, such as a trust or will. Read on to learn more. … [Read more...] about Updating Your Plan: Your Trust or Will

Filed Under: Estate Planning, Legal Education

It’s Better to Give, Especially This Year

January 27, 2021 by Michael O'Brien

public charity

Normally, you must itemize your deductions in order to benefit from them. In 2020, the standard deduction amount is $12,400 for individuals and $24,800 for married couples filing jointly. But this year, you can get a charitable deduction even if you don’t itemize. Read on to learn more. … [Read more...] about It’s Better to Give, Especially This Year

Filed Under: Legal Education, Estate Planning

Updating Your Plan: Powers of Attorney

January 20, 2021 by Michael O'Brien

estate planning

As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including Powers of Attorney. Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. It’s important to consider whether you need to update either of these powers. Read on to learn more. … [Read more...] about Updating Your Plan: Powers of Attorney

Filed Under: Legal Education, Estate Planning

Tax Planning for 2021

January 13, 2021 by Michael O'Brien

tax planning

Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2021 is just starting, it’s not too early to think about planning for whatever it may bring your way. … [Read more...] about Tax Planning for 2021

Filed Under: Legal Education, Estate Planning

Updating Your Plan: Beneficiary Designations

January 13, 2021 by Michael O'Brien

estate planning

As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including beneficiary designations. Beneficiary designations may control a large part of your assets and it’s important to be sure your plan is coordinated to consider these. Read on to learn more. … [Read more...] about Updating Your Plan: Beneficiary Designations

Filed Under: Legal Education, Estate Planning

What Is a HIPAA Release?

December 16, 2020 by Michael O'Brien

The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?

Filed Under: Estate Planning Tagged With: HIPAA Release, Incapacity Planning

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Michael and his team work very closely with you to help build a strategy for you regarding estate planning. They do not overdo it. They work hard to be certain their suggestions/recommendations fit your needs. Michael asks great questions, listens well and delivers on his commitments. I was very appreciative and hugely satisfied.

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