In this issue of our Estate Planning Newsletter
What Is Protected From Creditors?
The executors are settling an estate — but the decedent owes money. What can the creditors take and what is reserved for the inheritors? There is no easy answer, and a variety of federal and state laws apply.
What To Know About the Child and Dependent Care Credit
The child and dependent care credit is a tax benefit designed to help people who both work a job and pay for the care of either children or dependents, if not both.
Where Retirement Dollars Go
After you retire, you will probably spend less money on certain items, such as clothing and electronics, and more on domestic help, long-term care insurance and/or charitable giving. Every household budget is unique. Spending is an expression of preferences, needs and resources.
What Should a Will Include?
With a will, you have the power to dictate how you want your estate to be divided up after you die. Although the major items included typically range from bank accounts and stocks to houses and cars, wills can even address to whom you want to give personal items, such as jewelry or furniture, once you pass away.
How To Avoid Problems With Trusts
Trusts are an incredibly valuable estate planning tool, but along with the advantages associated with them, there is also a plethora of disadvantages that should not be dismissed. It’s important to think about the downsides of trusts before deciding whether a trust is the right vehicle for you.