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Estate Planning Archives

3 things to know about organ donation

It's National Donate Life Month, which is a great time to consider something you might not have talked about when discussion your other estate plans. If you've already worked with an estate planning professional to create a will and determine how you want your assets handled after you are gone, you're ahead of many Americans. But, have you considered what your body might be able to accomplish even after you are gone? For many people, organ donation is a way to continue giving back to others. Here are three things you should know.

Millennials: Estate planning is good financial management

Despite what many people might believe, millennials as a whole are typically fairly responsible with finances. Many of them grew up in years of recession and came of age as their parents struggled with student loan debt related to schooling that occurred years -- if not decades -- before. Seeing such impact first hand during formative years, millennials often think of money and success in very different ways than the generations before them.

All adults should think about their estate plans right away

Most children anxiously await the day they will be considered an adult. These children might not realize the responsibilities that come with the title. Even some young adults don't realize this. One important responsibility that is often overlooked is the need to create an estate plan. Once you are an adult, you should take the bull by the horns and get this done.

Protect your estate tax exemption as you give this holiday season

In certain situations, gift-giving and estate taxes can be related. We've previously discussed that you don't have to worry about the hefty federal estate tax as long as your estate is worth less than the threshold amount when you pass away. As of 2016, that amount was $5.45 million.

Don't make these 3 estate planning mistakes

We talk a lot about how not planning for end-of-life is one of the biggest and most common errors people make with regard to estates, but even if you jump into estate planning now, you could make a common mistake that causes extra cost or stress later. Here's a look at three common errors to avoid as you plan.

Have you considered all the angles for power of attorney?

With people living longer statistically — and that trend only expected to continue as medical science makes new discoveries daily — estate considerations regarding later years are becoming more important. While it's certainly critical to consider wills and other after-life estate measures, you might also want to seriously consider documents such as power of attorney forms.

What documents does your estate plan require?

A lot of articles exist that will tell you what, exactly, someone thinks should be in your estate plan. This isn't one of those articles, because the truth is that your estate plan isn't like anyone else's. You have unique needs and questions, and what works for someone else won't necessary work for you and your heirs. That being said, we do recommend that everyone have an estate plan, and this post highlights some of the common documents that you might want to talk to an estate lawyer about.

Do you need whole life insurance?

When we talk about estate planning, most people probably default to thoughts of wills or trusts. However, life insurance can be an important consideration for estate planning, especially if you haven't yet built up wealth or you know that your heirs will be left with obligations or needs requiring cash.

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