This article focuses on how to plan using 529 Plans. This fourth article in the series gives many insightful tip. 529 Plans: Planning for Education with a Tax and Asset Protection Bonus by Steve Hartnett <img class=" wp-image-15521 alignleft" src="https://www.aaepa.com/wp-content/uploads/2019/08/Education-300x300.jpg" alt="" width="184" height="184" />This is the fourth in a series focusing on planning for children. The first article was focused on the importance of … [Read more...] about 529 Planning
Planning for Education Expenses
In this third of four articles, we take a look at planning for those educational expenses. The cost of education is continually on the rise. How can you help your children or grandchildren? Planning for Education Expenses by Steve Hartnett <img class="wp-image-15521 alignleft" src="https://www.aaepa.com/wp-content/uploads/2019/08/Education-300x300.jpg" alt="" width="147" height="147" />This is the third in a series focusing on planning for children. The first article … [Read more...] about Planning for Education Expenses
Planning for Special Needs Children
Planning for a child who has a disability or special needs can be difficult. This article sheds some light on this tough subject. Planning for Special Needs Children by Steve Hartnett <img class="wp-image-15503 alignleft" src="https://www.aaepa.com/wp-content/uploads/2019/07/Special-Needs-2-300x300.jpg" alt="" width="169" height="169" />This is the second in a series focusing on planning for children. The first article was focused on the importance of planning if you … [Read more...] about Planning for Special Needs Children
Planning for Step-Children
If your spouse has biological children, you may consider them your own. But, if you haven’t adopted them, they have no inheritance rights. This article looks at how to plan for step-children. Planning for Step-Children by Steve Hartnett <img class="wp-image-15483 alignleft" src="https://www.aaepa.com/wp-content/uploads/2019/07/Step-Children.jpg" alt="" width="145" height="145" />This is the first in a series focusing on planning for children. This first … [Read more...] about Planning for Step-Children
Many Reasons for Estate Planning
Everyone Will Die Whether or not we plan to do so, each of us will face death eventually. However, by planning, we can make our passing easier and better in many ways for those we leave behind. This is the first of a series on the ways we can ease the transition through planning. This first article focuses on privacy. The next article will focus on how you leave assets to your loved ones. Let’s look at two people who die in the same car accident. It’s a tragedy for both of them and their … [Read more...] about Many Reasons for Estate Planning
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. by Steve Hartnett 0 Comments TOD (Transfer on Death) designations, POD (Pay on Death) designations, and beneficiary designations can be useful in the right circumstances. Each of these tools allows for an automatic transfer to the named beneficiary at the death of the owner. But these tools … [Read more...] about Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
Aretha Franklin Died Intestate: What Does It Mean for Her Family?
Aretha Franklin died intestate. Intestacy has definite drawbacks. Read on to see what this means for her family, financially and in other ways. Aretha was the Queen of Soul, but her lack of planning caused consequences she did not consider. She was a singer, songwriter, civil rights activist, and so much more. Aretha was a great recording artist, with a career spanning many decades. She received honorary degrees from many prestigious universities, like NYU, Princeton, and Yale. She received … [Read more...] about Aretha Franklin Died Intestate: What Does It Mean for Her Family?
Nursing Home Lawyers Discuss the Benefits of Planning
Most of us know that nursing homes can be very expensive, even if we don't have a loved one already residing in one. The unfortunate reality is that most private health insurance coverage does not include nursing home services. Even those with Medicare coverage may not receive sufficient coverage to make Kentucky nursing homes affordable. So, when it comes to the need for nursing homes, our nursing home lawyers can help you be prepared. Understanding the basics about Medicaid Medicaid is a … [Read more...] about Nursing Home Lawyers Discuss the Benefits of Planning
Basics of Estate Planning: Powers of Appointment: Part 2
Add flexibility to a trust by using power of appointment. This article will examine the different types of powers of appointment and how that can impact taxation. The last blog examined the basics of powers of appointment. This blog will examine how they can impact taxation. From a gift and estate tax perspective, there are two kinds of powers of appointment, a limited power of appointment (or “LPOA”), and a general power of appointment (or “GPOA”). They can cause dramatically different gift … [Read more...] about Basics of Estate Planning: Powers of Appointment: Part 2
Basics of Estate Planning: Powers of Appointment
Trusts can be very flexible. One of the ways to add flexibility is by using powers of appointment. This article will examine what a power of appointment is and how it may be used to add flexibility to a trust. Trusts have many potential benefits. One of those benefits is that they can be very flexible. One way to increase the flexibility of a trust is by including powers of appointment. What is a Power of Appointment A power of appointment is giving someone the ability to direct the assets … [Read more...] about Basics of Estate Planning: Powers of Appointment
