Many people understand that a living trust helps them avoid probate. This is true, to the extent that the trust is funded at the time of death. A trust can be a wonderful estate planning tool for many reasons, including the ability to avoid the time, expense, and...
We do almost all our financial transactions electronically today. We do our banking electronically, we buy our gifts electronically, we make our travel arrangements electronically. We talk with our children or grandchildren 600 miles away electronically. So, why can't...
Effective estate planning requires revision and adjustment as a person's life, job, and investment portfolio change over time. Periodic monitoring is particularly important for assets with beneficiary designations. These assets, such as life insurance policies, bank...
Often in our estate planning practice we encounter clients who long ago executed a non-charitable irrevocable trust that is no longer productive or that no longer functions as intended. This can be caused by a number of issues, such as changed circumstances in the...
Our clients' estates have always benefited from a step up in basis at the time of death. This means that assets included in client estates can receive a basis which is equal to the fair market value at date of death. This can be very beneficial for clients whose...
The City of Taylor Mill Announces Street DedicationHolland Drive to be dedicated in honor of Gary E. Holland, Jr.The City of Taylor Mill, Kentucky is proud to announce that a newly constructed street leading into the Downtown Taylor Mill District Three (3) Zone will...
Q: Why are gifts used in estate planning?A: Gifts remove assets from your estate. Shrinking the estate reduces estate taxes, probate costs, and estate administrative expenses. You will benefit even more if the asset you are gifting is likely to appreciate in value...
