Tag: attorneyFIT

Legacies: The DOs and DON’Ts of Receiving an Inheritance

Losing a loved one is very disorienting. If an inheritance is associated with the love one’s passing, that gift can cause a host of emotions, conflicts and decisions.  Whether you knew about the inheritance or not, it can be overwhelming to receive a lump sum of money or property. I know this from both personal and professional experience.  With experience comes insights, and I would like to share these insights with you as a “dos and don’ts” list.

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Can I Just Leave Everything To My Dog?

Not that long ago, arrangements for pets were not even considered when creating an estate plan. Nowadays, however, a high percentage of wills and trusts include provisions for the continual care of animals.

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4 Estate Planning Tips When You Have Young Children

1. Write a Will
For most young parents, writing a will is less about distributing assets and more about naming a guardian for their children. The guardian named in your Will is the person that would take care of your children if you and the other parent were unable to do so. This situation is very unlikely, but worth addressing just in case.

If your children ever needed a guardian, the local Probate Court would appoint the person designated in your Will, absent a serious problem with that person. You can name different guardians for different children if you wish. If you do not have a Will with a Guardianship Designation, or if you haven’t made your wishes in the Will clear, the Probate Court would have to select a guardian for your children without any guidance from you. The most common choice is a family member. But what if you really wouldn’t want a certain family member to raise your children? Or what if you preferred that a close friend step in as guardian? The Court would have no way of knowing your wishes.

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Benefits of Professional Trustees

What is a professional trustee?

When you set up a trust, you must name a trustee to manage and administer the assets in your trust. Generally, professional trustees are experienced individuals that work in a trust department in a bank or in a trust company.

Do you need a professional trustee?

In determining whether you need a professional trustee, consider the following…

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Are you Paying More Than You Need in Taxes?

The Tax Cut and Jobs Act of 2017, which became effective for tax years starting in 2018, significantly impacted many taxpayers. The change impacting the most taxpayers was the enhanced standard deduction and loss of many itemized deductions. Tax forms were also presented differently making it difficult for taxpayers who reviewed their returns in detail to compare year-to-year. While there were many changes, there are still some important tax savings strategies that may help you pay less in taxes. Which ones apply to your situation?  Ask yourself the following questions…

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5 Advantages of Revocable Living Trusts: Should You Have One?

In working closely with two separate, long-term clients over the last three months, I saw first-hand how they and their families experienced the benefits of having their assets in a revocable living trust.  Depending on your circumstances, a revocable living trust could be very beneficial to you and your family. For my older clients, it is something that I highly recommend they consider. Below I will highlight five key advantages of having a revocable living trust and how having one may be beneficial for you.

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Hear How Atlanta Financial Makes Life’s Journey Richer

Atlanta Financial TV is home to a variety of videos that allow clients and associates to obtain knowledge, insight and experience. Tune in to learn more about our approach to comprehensive wealth management.to comprehensive wealth management.

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