Category Archives: Estate Planning
IRS Clarifies New Same-Sex Marriage Tax Issues
As most of you are probably aware, the United States Supreme Court issued a landmark decision in June that struck down a portion of the Defense of Marriage Act (DOMA). Constitutional Due Process Challenge The case, United States vs. Windsor, was an estate tax case out of New York. Thea Spyer and Edith Windsor… Read More »
7 Basic Estate Planning Mistakes (to Avoid)
Usually I prefer to advise people on positive steps to take, rather than mistakes to avoid. I’m going to break that rule slightly in this post, which is adapted from a page that we used to have on our main website. I think it makes more sense here instead, with links back to our… Read More »
6 Ways to Designate Minor Children as Life Insurance Beneficiaries: the Good, Bad and Ugly
Many new or expecting parents wisely include obtaining life insurance policies on their to-do list. Protecting the financial security and future of minor, young adult and disabled children from a parent’s untimely death is critically important. But, selecting and obtaining the right policy is only half of the equation. It is equally critical to… Read More »
Pot Trusts: More Equal Than Equal?
When I ask parents of young children how they want to divide their estate among their children, the answer is usually “equally”. Sounds fair. In most cases, we desire to treat our children equally. But, particularly for young families, if you either fail to plan or if you only create a simple “upon my… Read More »
Textbooks, a Micro-Fridge and…Powers of Attorney: Estate Planning Before Heading off to College
All adults should strongly consider creating Powers of Attorney for Health Care and Property. Young adults are no exception. While parents find it easy to communicate with physicians, health care providers and educators for their minor children, when a child turns 18 things change. At 18, minors become adults in the eyes of the… Read More »
Happy July 4th: Estate Planning, American Revolution Style
Happy Independence Day from the Law Offices of Robert H. Glorch! Whether you’re traveling, barbecuing or attending a festival or parade, we wish you a relaxing, happy and safe holiday weekend. When we think of the American Revolution we think of freedom. At it’s heart, estate planning — managing and disposing of your property… Read More »
Introduction to Estate Planning for Digital Assets
The topic of what happens with a person’s “digital assets” and accounts after death or disability has been the subject of increasing debate and importance over the past several years. Facebook and Twitter, e-mail, iTunes, blogs, YouTube, Kindle books, websites, Flickr photos, Ebay businesses — the list goes on and is growing. Our online… Read More »
Heirs vs. Descendants
‘Heirs vs. Descendants’ sounds like an oddball method of dividing teams for a family softball match. Or maybe the sequel to a cartoon movie. What you don’t want it to be is the legal caption describing the parties litigating your estate because the terms of your will or trust were ambiguous or not what… Read More »
U.S. Supreme Court Decision Reinforces Importance of Updating Beneficiary Designations After Divorce
It is not every day (or year) that the Supreme Court issues a decision impacting estate law. They did, however, issue just such a decision yesterday (June 3) that serves as a good reminder for something that many probably already knew, but is worth reinforcing, and that is: you must change your beneficiary designations… Read More »
Storage of Original Estate Planning Documents
The world is becoming more digital and paperless. Not paper-free, but paper-less. I don’t know about you, but I much prefer digital access to my credit card statements, bank statements and the like, rather than file drawers full of documents. Our office maintains and digitally backs up copies of past client files on our… Read More »