Insight on Estate Planning - October/November 2017

Oct 05, 2017

By Douglas C. Lawrence | Related Practice: Estate Planning & Administration

Here's a brief glance at what you'll find in the October/November issue...

Social Security benefits: When is the best time to start receiving payments?

For those nearing the age when they can begin receiving Social Security benefits, it's important to understand how the timing of applying for benefits can affect monthly payments. This article explains what factors to consider when choosing to apply for benefits and details how Social Security benefits can affect estate planning strategies. A sidebar describes two popular Social Security-related strategies that are no longer available. Read more...

Planning ahead after a divorce

For those in the middle of a divorce, the last thing on their mind is a review of their estate plan. However, a major life change, such as a divorce, is a critical time to update an estate plan so that wishes are carried out as one desires. This article examines areas to focus on. Read more...

ABLE accounts benefit disabled family members

For families with disabled loved ones who are potentially eligible for means-tested government benefits such as Medicaid or Supplemental Security Income, estate planning can be a challenge. One potential tool is to open a Section 529A account (also known as an ABLE account). This article details how an ABLE account works and compares it to a special needs trust. Read more...

Estate Planning Pitfall: You chose your executor too hastily

Haste makes waste. Or, in the case of estate planning, it can lead to other problems and, possibly, financial loss. Notably, if you don't take enough time to choose the executor for your estate, the "wrong call" can cost your family. This brief article explains what to consider when appointing an executor. Read more...

Certain medical and tuition expenses paid as gifts may qualify for tax exclusion

Some medical and educational expenses can be paid without incurring any gift tax liability. While certain rules and limitations apply, this is an important factor in determining the amount of gifts donors can make tax-free to family and friends. Read more...

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This post provides general information and is not legal or other professional advice. To discuss issues specific to your circumstances, contact one of our Estate Planning attorneys.