The Law Firm of Richard M Lewis
Jackson, OH:
7 Big Estate Planning Mistakes
Probate can be both time-consuming and expensive. It also is a public process. Your heirs are left hanging about when they'll inherit and how much they'll inherit.
Inherited IRA Rules: What Heirs Need to Know
Find out what you have to do when you inherit an IRA.
4 Questions to Ask Before Passing Down the Vacation Home to Your Kids
First step: Make sure your heirs actually want it.
Smart Estate Planning Tips for Entrepreneurs
Follow these strategies to reduce inheritance taxes and probate issues for your heirs.
Should You Keep a Trust Quiet (Silent) From Beneficiaries?
Al W. King III addresses the issue of exactly how much heirs should know about the sizes of their prospective inheritances
Avoid costly mistakes when naming beneficiaries
It's key to be aware of beneficiary forms. Naming the wrong people or failing to update those documents can create a mess for your heirs.
Are Your Heirs Ready?
People who inherit a lot of wealth and are not ready to deal with it, can run into a lot of problems. Everyone is aware that it is not a good idea to let minor children inherit a lot of wealth and leave them to manage it on their own....
What Is Your Goal for Heirs?
Annuities purchased for wealth transfer can be set up as income streams to children or grandchildren, especially if they have stretch capabilities.
Are Your Beneficiary Designations Heir Tight?
An often-neglected area in the world of benefit plan administration is the beneficiary designation form. Many participants complete their beneficiary...
Will My Heirs Receive Their Inheritances Quickly?
There is no cookie-cutter, one-size-fits-all estate plan, so the waiting game as it were will depend upon the way that you plan your estate.
No will or estate plan? Big problem for you and your heirs
While estate planning is often associated with the wealthy, financial advisors say most Americans can benefit from it.
Naming Heir to Estate? Consider a Backup
You may not like considering a back up to your plans for your estate, but it is a good idea. When you name a heir to your estate, you are most likely not thinking of outliving them. However, it might be a good idea to have a backup plan because...
Gift while living or transfer assets to heirs at death?
Individuals can choose to make a gift while they are living, or include it in their estate plan for distribution upon death.
Can My Living Trust Protect a Spendthrift Heir?
This is just one example, but you do have the latitude to leave behind specific instructions when you are creating the living trust agreement, and this can provide you with a great deal of peace of mind.
Prepare Your Heirs to Receive, Protect and Grow Their Inheritance
A recent Forbes article indicated that a surprising 70% of an affluent family’s wealth is typically gone by the end of the second generation, and 90% is destroyed by the end of the third generation…
Can heirs' inheritance be made contingent on religious observance?
Question: To get their inheritance, we want to include a clause in our trust that requires our grand...
Are You Giving Your Heirs an Unanticipated Tax Bill?
Traditional estate plans written under pre-2017 tax laws may generate significant and unnecessary income tax liability for heirs. The...
Many heirs miss out on a valuable tax deduction
Baby boomers are likely to inherit trillions as wealth is transferred from the previous generation. Many heirs may miss out on valuable tax deductions.
Is A Reverse Mortgage Wise If I Have No Heirs?
With or without heirs, proceed carefully with a reverse mortgage and see a counselor.
Retirement planning: Does your estate plan serve as a guide for your heirs?
Bill, a retired doctor, recently asked me: “What would you do if you knew you had 30 days to live?” Spend some quality time with family and close friends, of
