by eschmitz | Mar 15, 2023 | Estate Planning
Motor vehicles are one of the most overlooked items in estate planning. Often all of a deceased person’s assets are joint, have beneficiary designations or are payable on death to beneficiaries except for a motor vehicle. If the motor vehicle is in the deceased...
by eschmitz | Feb 23, 2023 | Estate Administration, Probate, Wills and Trusts
One of the most common myths in estate planning is that if you have a will, a probate will not be necessary at your death. This is absolutely not true, a will is a ticket to the probate process and will direct the distribution of any probate assets. Probate assets are...
by eschmitz | Feb 23, 2023 | Estate Administration, Wills and Trusts
When a person dies, there are certain tax reporting responsibilities that survive death. Personal Income Taxes. A personal income tax return (Federal and State 1040) will need to be filed for the final year of a person’s life. For example, if they passed away in...
by eschmitz | Feb 23, 2023 | Estate Planning, Planning for Children and Teens
An important part of a complete estate plan is making sure your beneficiary designations will accomplish your goals. Naming beneficiaries for your life insurance death benefits may seem simple, but designating beneficiaries requires careful preparation. This article...
by eschmitz | Jun 21, 2022 | Health Care Directives, Estate Planning
Part of estate planning is planning for incapacity. Incapacity planning includes planning for health care decisions as well as financial decisions. In this article we will concentrate on the health care side of planning. There are three essential legal documents for...
