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Category Archives: Estate Planning

Read more on the complicated issues related to estate planning that Alatsas Law Firm believes are pertinent to anyone considering or already planning their finance’s future

Last Wills & Testaments | Most Commonly Asked Questions

Not many people want to discuss what will happen when they die. Even though death is a certainty, some people are in denial of that fact. As a result, they delay the estate planning process for as long as possible. Some even die without a will in place. If you are ready to start preparing […]

Five Estate Planning Myths

Estate planning is a confusing concept for many people. They may think they do not need it because they are young or have very few assets. There are many myths regarding this topic, and it helps to be informed so your wishes can be carried out in the event of your death. Estate planning can […]

Asset Protection Trusts: How to Protect Your Personal Assets

To some, trusts are only useful for rich people who want to avoid taxes. While trusts do help protect personal assets and make sure people do not overpay in taxes, they can be useful for people of all income levels. Those who want to protect their property and qualify for medical services can do so […]

Estate Planning With No Heirs

You have never been married. You are an only child and have no children of your own. Your parents are long gone and you have no other relatives. So, what happens to your estate when you die? Since you have no heirs, can you just skip the whole estate planning process entirely? Not exactly. If […]

What Happens When You Die Without a Will?

Aretha Franklin’s death was a shock to fans who enjoyed the Queen of Soul’s powerful music. What may be even more shocking was that she left behind a massive estate without a will. She reportedly was worth $80 million and had no will. Unfortunately, dying without a will is not an uncommon situation. Many people—even […]

Estate Planning Strategies for Expensive Hobbies and Collections

When many people think of their assets, they tend to include cars, homes, and money. Many people overlook collections of art, toys, sports cards, and furniture. These collections may seem like trivial hobbies to most people, but many collections have significant value attached to them. It is not uncommon for antiques and artwork to be […]

How to Protect Inheritances for Future Generations

You’ve worked hard to acquire your assets, and now that you’re getting older, you’re considering an estate plan. You want to pass down an inheritance to children and grandchildren, and while that’s a noble act, it’s easier said than done. Many people leave inheritances to family members, but rarely do they last. Inherited wealth may […]

The Many Effects of the Proposed Tax Plan

President Donald Trump has recently proposed a tax plan that will affect virtually all Americans in some way. From estate planning to retirement to tax deductions to cutting important programs such as Medicare,. The plan has been deemed unjust by many, but no matter what Americans think of it, it may soon become the law […]

How Do I Avoid Estate Taxes?

There are a few ways you can avoid paying estate taxes. Strategies include liquidating your assets, using trusts, and giving your loved ones tax-free cash gifts. For most individuals, a group of strategies are necessary to reduce or even eliminate one’s estate tax obligation during the estate planning process. How Do I Avoid Inheritance Tax? […]

Things to Consider When Approaching Retirement & Estate Planning

Transitioning into retirement can be a daunting process. Planning for this chapter in life can be even more intimidating. In both situations, it is important to take an honest look at your financial picture and change areas that need adjustment – if possible.  If you or someone you know is nearing retirement age and needs […]