Probate is the process by which an individual’s last will and testament is determined to be valid (or “proved”) so that the decedent’s final wishes regarding estate assets can be settled. Although probate is avoidable in some cases, there are many estates that must be subjected to this process before property can...
Category: Estate Planning & Trusts
A Cost Effective and Easy Way to Give to Charities
Tracy Craig, Chair of our Trusts and Estates Practice Group, recently contributed an informative article to Kiplinger, focused on individuals interested in including charitable giving in their estate plans. This giving can take many forms. Oftentimes, a donor-advised fund can provide a very cost effective and easy way to give to charities,...
How Bank Accounts Pass on to Beneficiaries When Your Loved One Passes
It’s tough to lose a loved one, but despite the grief, some tasks must be handled to deal with the estate. One potentially complex area is the transition of the decedent’s bank accounts to his or her beneficiaries. Seder Law’s Estates & Trusts practice aims to simplify the process by helping...
Tracy Craig Featured in Business Insider on Inheritance Tax
Tracy Craig, Chair of our Trusts and Estates Practice Group, has been recently quoted in a Business Insider article discussing the complexities of inheritance tax. The article delves into the mechanics of inheritance tax, who is liable to pay it, and strategies for effective tax planning.
Understanding the Pros and Cons of Medicaid Asset Protection Trusts
You’ve spent your life working to amass wealth in the hopes of having some money to live on during your retirement. If you’re like most people, you also want to pass on some of that wealth to your children and grandchildren. However, there is always the threat of chronic illness and the...
Common Types of Property that Can Be Placed in a Trust
There are many different types of trusts that an individual can create as part of their estate plan. These trusts serve a variety of purposes such as providing for the support of beneficiaries, minimizing taxes, and avoiding the costly and time-consuming probate process. Seder Law’s Estates & Trusts lawyers can discuss your...
Tracy Craig publishes article “How to Handle Estate Planning for Multigenerational Living Arrangements”
Tracy Craig, Chair of the firm's Trusts and Estates Practice Group, recently published an article featured in Kiplinger, "How to Handle Estate Planning for Multigenerational Living Arrangements".
In this notable article, Tracy delves into the complexities that arise when multiple generations cohabitate on a shared property. She adeptly...
What Steps Can I Take Now to Protect My Assets If I Need Assisted Living?
How can I Protect My Assets If I Need Assisted Living?
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Nursing home costs are skyrocketing, causing many seniors to worry that they will be forced to deplete hard-earned resources that might otherwise be passed on to their children and grandchildren. Fortunately, there are steps that older Americans can...
How Do Inheritance Taxes Differ From Estate Taxes?
Taxes are complex and the terminology surrounding them can be confusing. This is no less true with respect to estate planning. And while “estate tax” and “inheritance tax” are often used as synonyms, they actually have very distinct meanings. Knowing how inheritance taxes differ from estate taxes will help you prepare for...
Why New Parents Should Consider Developing a Trust
Parenthood, especially when a first child is on the way, is a busy time. Long before your child is born or adopted, you’ll be worrying about choosing names, decorating the nursery, and much more. But planning for your child’s financial future should start early, which means considering a trust. New families in...