During the seminar, the marketer describes the benefits of living trusts and repeatedly states that every seminar participant should have a living trust.
One area where it is crucial to make sure the premarital agreement is integrated with the estate plan is with regard to the residence. For example, while many premarital agreements provide that the surviving spouse may remain in the residence, the house may be in a revocable living trust that goes directly to the children. To avoid such conflicts, Ganderson tries to have the estate plan completed before the marriage. One option for clients who want to allow a surviving spouse to continue to reside in the home is for the wealthy spouse to set up a trust to provide…
A client who is considering a second (or third or more) marriage often has more complicated estate planning needs than a single client or a client who has been married only once. A premarital agreement can be key to protecting a client's assets, but the attorney must make sure the agreement is integrated with the client's estate plan. At the National Academy of Elder Law Attorneys' 2010 Elder and Special Needs Law Annual Meeting in Orlando, Florida, earlier this year, Virginia estate planning attorney Martin J. Ganderson discussed how to plan for a second marriage and outlined the various estate…
We offer a free Estate Organizer Kit, which anyone is welcome request and use to help keep estate assets organized.
The process can certainly appear daunting at first, but the key is recognizing that you do need to plan, and the time to start is now.”
Strategic use of life insurance frequently is a key aspect of comprehensive estate planning, solving a wide variety of estate planning challenges from providing liquidity to pay estate taxes, to charitable bequests and ensuring the continuation of a closely-held business. One of the key characteristics of life insurance, however, making it such a versatile estate planning tool, is preferential tax treatment. Properly structured, life insurance proceeds pass tax-free to beneficiaries, and earnings on investments held within certain types of “permanent” life insurance also generally accrue tax-free. According to a recent article in The Wall Street Journal, there is some national…
I ran across an article at New Jersey online last week with advice about how to pick a team of professional financial advisors. I was pleased to see the writer included estate planning attorneys as part of your essential advisory team! I also thought some of their tips for choosing an attorney were worth passing along: Think about your needs and then find an attorney who specializes in meeting them. For example, if you have elder-care issues, or tax concerns, find an attorney who is experienced at resolving issues similar to yours. Visit the websites of some of the professional…
As reported in the ABA Journal the U.S. Supreme Court has agreed to hear an appeal by the heirs of Anna Nicole Smith in a battle over her late husband's fortune. The 9th U.S. Circuit Court of Appeals ruled in March that Smith's heirs were not entitled to the millions of dollars she sought from J. Howard Marshall's estate after her year-long marriage to the elderly billionaire ended with his death. Marshall did not include Smith in his will, but she had claimed he was improperly influenced by his son, Pierce Marshall, who interfered with the elder Marshall's estate plans….
We, at Senior Life Care Planning, provide our clients, families, and caregivers, with a support system, expertise and resources they need to better navigate the many health care, legal, and financial complexities associated with aging.
I just would caution everyone to take caution in disclosing personal, confidential, identifying information about yourself and/or your estate.
Frederick, MD 
301-663-9230