Category Archives for Farm Families
What is a “DAPT” and Why You Should Care About It
Let me start by defining what “DAPT” stands for…Domestic Asset Protection Trust. Still confused by what it means? Many are as it isn’t something that is simple and easy to understand in the first pass. I will hopefully help you understand it better and offer you some ideas on how it can be used so […]
Continue readingAre You Going to Take Advantage of the Proposed “Clawback” Changes?
Because of the recent tax law changes, there is an interesting proposal on the table that will be voted on in March of 2019. It is expected to pass with little opposition. If it does pass, there will be some interesting “opportunities” for people between now and 2026. This is the window where you will […]
Continue readingCelebrity “Fail” Series…Fail #3…How Burt Reynolds and Aretha Franklin Failed at Estate Planning
This is the third in our “Celebrity Fail Series” that talks about how celebrities failed to do the proper planning for their estates. Besides having some great entertainment value, there are some important lessons that can be learned from some of the most recognized celebrities. It also demonstrates that effective estate planning isn’t about having the […]
Continue readingWhy You May Want to Form an LLC
I find that there are a lot more “unknowns” and “concerns” about an LLC (limited liability company) that perhaps any of the other business structures…at least I seem to get more questions about LLCs than the others. So it caused me to conclude that most people really don’t understand all the benefits surrounding an LLC […]
Continue readingHow does “effective” Estate Planning really work?
There seems to be a lot of confusion about not just how Estate Planning works but why it works so well…when created the right way. Let me try to clear up some of the confusion for you with a live story about a couple that might have some similar issues to your own situation. It […]
Continue readingIt’s “WHY” and “HOW”…Not the “WHO” and “WHAT” that Matters
Someone asked me the other day when I was giving a speech to tell them exactly what “Estate Planning” really means. Seems like an easy answer for me, but not so much for everyone else. So I turned the question back on the audience and asked them what Estate Planning meant to them. Surprisingly, or […]
Continue readingEstate Planning For Women and the Men Who Love Them
Estate planning is an experience that is equally shared (and enjoyed) by both men and women, husband and wife’s, and partners. While important to both sexes, estate planning often affects women more profoundly. Why? Women live longer on average and tend to marry older spouses, making them three times as likely as men to be […]
Continue readingAmy Winehouse got her will right
While signers and movie stars are not a large part of my estate planning practice, it is sometimes fun to look at what happens to the “rich and famous” when it comes to their estate planning…at least I think it is fun. Often times we think that just because someone has a significant amount of […]
Continue readingUncovering Dementia and Alzheimer’s Cover-ups
One of my estate planning colleagues, Lizette Sundvick, who practices in Nevada penned this comment on dementia cover-ups. Her post occurred after reading, “The Danger of Your Aging Parent Covering Up Dementia” article in Forbes. Here’s what’s important: it doesn’t matter if you have a diagnosis for your aging parent or not. It matters how […]
Continue readingBack to Basics with Estate Planning
Everyone is unique and their situation is unique. I could put you in a room with 100 people and your situation would have some aspects of uniqueness to it that belongs just to you and you alone. This is what makes us human. Our estate planning and legacy preparations aren’t any different…they are unique. It […]
Continue reading