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January 2020 Archives

Cancer affects what estate planning documents to draft

It's important for everyone to have an estate plan in place no matter how healthy or young that they are. Cancer and other illnesses don't discriminate after all. You can fall ill with a medical condition at any point in your life. If you've been diagnosed with cancer or terminal illness, then it's even more important that you get certain health-related legal documents in place sooner than later just in case.

Why you shouldn't rush to distribute assets after a testator dies

A testator's loved ones often come out of the woodworks en masse to stake claim to their loved ones' assets immediately following their death. You as the executor shouldn't give in though. It could be quite costly if you do.

What are the tax implications of passing down a retirement plan?

One of perhaps the biggest guffaws that individuals make when planning their estates is not thinking of the tax implications that making certain decisions will have on their beneficiaries. Certain types of retirement investment plans require beneficiaries to take regular payouts from them. This can adversely impact a beneficiary's taxable income unless other provisions are put in place to prevent this from occurring.

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