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Friday, July 29, 2011 Recent Press Coverage of Estate Planning (July 29, 2011)
Saabira Chaudhuri of the Wall Street Journal notes that when completing your estate plan, you shouldn’t lose focus of some of the smaller, but important, details. One area often overlooked is what will happen to your pets. There are approximately 165 million dogs and cats in this country, and roughly 400,000 need to find a new home every year because their owners die. Also, if you have engaged in preserving sperm, eggs or embryos because you had cancer, were in the military or other high-risk occupation, don’t forget to spell what should happen to the cryopreserved gametes if you should die. See When Estate Plans Fail (July 23, 2011).
Kelly Greene of the Wall Street Journal stresses the importance of taking 15 minutes to write down your important user names and passwords for online accounts, including financial accounts, social networking accounts, and photo sites, among others. Without this information, your survivors could spend months trying to locate and access your important accounts. See PINs That Needle Families (July 23, 2011).
Paul Sullivan of the New York Times writes about charitable lead trusts (CLT) and why they are becoming popular again. The $5 million exemption level for the federal estate taxes alongside record low interest rates make CLTs good vehicles to pass more money to your heirs tax free. See A Trust Surges, Heirs and Taxes in Mind, But Mind the Details (July 22, 2011). Friday, October 29, 2010 Press Coverage of Estate Planning this Week (October 29, 2010)
Paul Katzeff of Investor’s Business Daily discusses why low interest rates make grantor retained annuity trusts (GRAT) and charitable lead trusts (CLT) attractive estate planning strategies. He also discusses key differences between GRATs and CLTs, for instance GRATs are preferred for assets with high appreciation potential, while CLTs can offer upfront income tax deductions. See Estate Strategies Helped By Low Interest Rates (Oct. 22, 2010).
Chris Kennedy writes in the Visalia Times-Delta about what a fiduciary is and does. Generally, fiduciaries cover a variety of roles in which an individual serves in a position of trust by accepting responsibility for taking care of the property and/or needs of another person, for the benefit of that person. Fiduciaries can be family members or non-family professional fiduciaries, and specific roles include acting as a person’s conservator or trustee. See The Roles of the Fiduciary Are Many (Oct. 23, 2010).
Chris Barth of Forbes offers advice on organizing your affairs so that your spouse has the information necessary to run the family finances if anything should happen to you. Steps to take include: keeping a list of computer passwords and logins; listing financial and professional advisors; keeping estate plan documents up to date; and ensuring beneficiary designations are up to date. See How to Protect Your Spouse Financially After You’re Gone (Oct. 27, 2010). | |
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Welcome to NorthEast Estates and Trusts, PLLC (NEET). NEET assists clients with Estate Planning, Probate and Estate Administration, Special Needs Planning and Advanced Estate Planning matters in Shelburne, Vermont as well as Charlotte, South Burlington, Burlington), Hinesburg, Essex, Essex Junction, Colchester, Winooski , Cambridge, Huntington, Richmond, Williston, Jericho , Underhill , Underhill Center and Fairfax. NEET also serves clients in Chittenden County, Addison County, Washington County, Lamoille County, Franklin County and Grand Isle County.
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