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Taxation of IRAs at death is an interesting topic. Read the blog below to discover how an IRA is taxed if it is left to your estate.
https://heartlandlegacyplanning.com/taxation-of-an-ira-in-an-estate/
Taxation of an IRA in an estate is important to think about. If one wants to minimize takes the estate should not be the beneficiary.
Many want to make charitable contributions and a good way to do so is with a Donor Advised Fund. The article below discusses what a DAF is and how to use one.
https://heartlandlegacyplanning.com/what-are-the-benefits-of-a-donor-advised-fund/
Many may want to make charitable donations and many may ask what is a donor advised fund as a way to make contributions.
Powers of Attorney are very important and an important question is can they be amended. The article below discusses this in more detail.
https://heartlandlegacyplanning.com/can-you-amend-a-power-of-attorney/
A common question is can you amend a power of attorney? The answer to this question depends on how the document was drafted.
Planning for long term care is an important part of estate planning. It is expensive and can break a family. The article below discusses this in more detail.
https://heartlandlegacyplanning.com/planning-for-spouses-medicaid/
Planning for spouse's medicaid is very important. Nursing home care is expensive and medicaid may be necessary jto pay for it.
What happens to "digital assets" when we die and do we need to plan for those assets? The article below discusses this in more detail.
https://heartlandlegacyplanning.com/do-you-need-a-digital-estate-plan/
Do you need a digital estate plan is an important question. Digital assets are becoming more prevalant and need to be planned for
Letters of instruction are an important part of an estate plan. The article below discusses them in more detail.
https://heartlandlegacyplanning.com/what-is-a-letter-of-last-instruction/
what is a letter of last instruction and should I do one? A letter of last instruction may be an important part of an estate plan
Have you ever wondered what is in a will? Check out the article below to learn more.
https://heartlandlegacyplanning.com/whats-in-my-will/
what's in my will is an important question to answer. There are many things that should be included and also things that should not.
Helping keep your parents in their homes is always a good idea. The article below discusses this in more detail.
https://heartlandlegacyplanning.com/helping-parents-live-safely-at-home/
helping parents live at home safely is important for elderly parents. Most parents want to remain at home and there are things that will help them do so.
There are many mistakes to avoid when doing estate planning. The article below discusses some of them.
https://heartlandlegacyplanning.com/estate-planning-mistakes-to-avoid-2/
Thjere are many estate planning mistakes to avoid. A failed estate plan will not achieve your objectives and can be avoided.
Revocable Trusts for estate planning are not just for the rich. See the article below for more information.
https://heartlandlegacyplanning.com/trusts-are-not-just-for-the-rich/
When doing estate planning don't forget about digital assets. The article below discusses this in more detail.
https://heartlandlegacyplanning.com/how-to-organize-digital-assets/
Many wonder how to organize digital assets. It is very important to organize and plan for digital assets with an estate plan.
What type of legacy do you want to leave and do you desire to give more? A DAF is one way to give efficiently. The article below discusses a DAF in more detail.
https://heartlandlegacyplanning.com/should-a-daf-be-part-of-my-estate-planning/
What is a "DAF", and do I need one in my estate plan. This is a question that may gain more importance with tax law changes
Do you need a will? The article below is a good discussion answering that question.
https://heartlandlegacyplanning.com/why-a-will-is-necessary/
Many ask why a will is important. A will is important for many reasons. Without a will many problems can arise are preventable
A lot of people ask what happens to my debts when I did. The article below discusses that subject. Enjoy reading it!
https://heartlandlegacyplanning.com/what-debts-are-paid-at-death/
what debts are paid at death? Do they need to be paid, and if they need to be paid how are they paid. These are all worth considering
Have you ever thought about what kind of legacy you will leave? What will happen to your stuff? Legacy planning is worth thinking about. The article below discusses it some. Take a look.
https://heartlandlegacyplanning.com/what-is-legacy-planning/
Many wonder what is legacy planning? Legacy planning may begin with a plan for distribution of asstes, there are many other aspects to it.
We are living in crazy times and planning is very important. The article below discusses estate planning during the pandemic. Check it out.
https://heartlandlegacyplanning.com/planning-during-the-pandemic/
Planning during the pandemic is important. Although many are not thinking about it, this is a perfect time to get it done
A common question is what does a trustee do. A good discussion is in the article below.
https://heartlandlegacyplanning.com/what-does-a-trustee-do/
Before accepting the position of trustee, it is important to ask what does a trustee do, and also know how long they will be done.
Will contests can be a real pain and cause lots of hard feelings and grief. The article below discusses will contests in more detail. It is worth a read.
https://heartlandlegacyplanning.com/why-are-there-will-contests/
Will contests are more prevelant than one might think. A proper and well thought out estate plan are critical to avoid contests
Sometimes people fight over the smallest things. When doing an estate plan, don't forget about personal property and how it is distributed. See the article below to see more about fights over personal property.
https://heartlandlegacyplanning.com/estate-battles-over-personal-property/
Estate battles over personal property distribution are common. Careful planning can help to minimize or eliminate these battles
One of the most important parts of an estate plan is a power of attorney. Choosing your agent for the power of attorney is very important. The article below discusses this in detail.
https://heartlandlegacyplanning.com/choosing-a-power-of-attorney/
Choosing a power of attorney is extremely imporatant and must be done with care. Choosing the wrong agent can cause problems.
Estate planning with blended families or for second marriages are extremely important. The article below discusses some of the challenges.
https://heartlandlegacyplanning.com/estate-planning-with-second-marriages/
estate planning for second marriages and blended marriages is very important. It is wise to do some of the planning before the marriage
Reviewing your estate plan is especially important as life changes happen. I recently reviewed documents that were created over 20 years ago. As you can imagine, many things have changed in 20 years, including successor trustees dying.
A Power of Attorney is important, but can it protect assets. See the article below to learn more.
https://heartlandlegacyplanning.com/can-a-power-of-attorney-protect-assets/
Can a power of attorney protect one's assets? A power of attorney is one document that should be used to protect assets.
I have been an exercise nut for most of my adult life. It is amazing how much moving can help you during your life. Check out my blog post below to see more.
https://heartlandlegacyplanning.com/little-things-add-years-to-your-life/
Little things add years to your life. A recent study indicated that moving which is a small thing can add years to your life.
Recently I had the pleasure of helping a 90 year old woman who had done her planning with her husband in 1997. Her husband had died and she had not thought about looking at her plan.
She decided she wanted to make a change and I was chosen to help her. Reviewing a plan periodically and when life changes happen is important. If I can help you with this I would be happy to do so.
Settling an estate can go very poorly. See the article below to see what can happen.
https://heartlandlegacyplanning.com/a-disaster-dividing-an-estate/
dividing an estate where the decedent died without a will can create a big disaster. Careful planning can avoid a disaster.
Have you ever wondered what is involved in a probate? See the article below which answers some of those questions.
https://heartlandlegacyplanning.com/whats-involved-in-probate/
There are many steps involved in a probate. It is important to know what is involved in probate so one can know how and why to avoid probate.
Sometimes you need to revoke a power of attorney. See the blog below to learn more.
https://heartlandlegacyplanning.com/can-i-revoke-a-power-of-attorney/
A power of attorney is important, but there are times when the power of attorney many need to be revoked. Careful drafting will alllow that.
Making sure the heirs you want get your property at death is important. The blog below discusses how to protect your property from an unwanted heir.
https://heartlandlegacyplanning.com/protecting-an-estate-from-an-heir/
Protecting an estate from heir an is very important. Disinheriting a child may be done for a variety of reasons but must be done with care.
Do your children or grandchildren really want your stuff?
https://heartlandlegacyplanning.com/how-much-is-my-stuff-worth/
How much is my stuff worth is a question any one doing estate planning must ask. Many times the stuff is not worth as much as thought.
Check out my blog below to learn what is needed for an estate plan.
https://heartlandlegacyplanning.com/what-is-needed-for-an-estate-plan/
The pandemic has caused many to think about estate planning. Many are discovering that a will is not all that is needed for an estate plan.
Sometimes people get away with scams for a long time. See my blog post below about a social security scam that lasted decades.
https://heartlandlegacyplanning.com/social-security-scam-finally-ends/
A forty year social security scam finally ends. The scan was where a nephew collected social security checks but the intended recipient was dead.
We all will die sometime. It is a good idea to think about how it will affect those you love before you die. My article below discusses this more.
https://heartlandlegacyplanning.com/why-should-i-think-about-my-death/
Why should I think about my death. Planning for my death and planning my estate is the final gift that I can give my family.
It would be fun to win the lottery, but if you do, you better be smart with the winnings. See my blog post below that discusses how to handle a financial windfall.
https://heartlandlegacyplanning.com/be-smart-with-a-financial-windfall/
Everyone would love to receive a financial windfall, but when a financial windfal is received one must be smart to protect it.
If you have an estate plan it is a good idea to review it on a regular basis. See the article below to learn more.
https://heartlandlegacyplanning.com/a-check-up-for-your-estate-plan/
An estate plan is for the ones you love and the need for a check up of your estate plan is very important during these times.
Estate plans are essential. Look at the blog post below to learn more.
https://heartlandlegacyplanning.com/everyone-needs-an-estate-plan/
Everyone needs an estate plan to avoid the probate process and to avoid having heirs fighting over your property.
Sometimes the wealthy get richer. See the blog post below about celebrities inheriting fortunes.
https://heartlandlegacyplanning.com/some-celebrities-are-heirs-to-fortunes/
Some celebrities are heirs to fortunes, yet they have made their own way and created their own fortune through their work.
Failing to do estate planning can cause a nightmare for those you care most about. Check out the post below to see how this has played out in James Brown's estate.
https://heartlandlegacyplanning.com/will-james-browns-estate-finally-be-settled-after-15-years/
Litigation over estate planning can be a problem if the planning is not done correctly. James Brown's will contest is still not over.
Would you like some incentive to spend more quality time with your grandchildren. Check out the blog post below for some tips.
https://heartlandlegacyplanning.com/will-i-live-longer-if-i-babysit-the-grandchildren/
Babysitting grandchildren is proven to extend the life expectancy of grandparents. Parents and grandchildren will benefit from babysitting.
Welcome to Heartland Legacy Planning. We are looking forward to serving this community. The post below outlines some of the basics of Estate Planning.
It's never too early to start working on how your things will be handled, once you pass away.
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Kimberly K Miller, Attorney at Law, PLLC
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The Law Office of Cheryl Husmann
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