Monday, October 10, 2016

Baby on Board

My wife and I have been blessed with a healthy, beautiful baby girl. This new addition to our family has added perspective to my life and opened my eyes to the true purpose of estate planning - love. That's right; estate planning is an act of love by someone who wants to ensure that their spouse, child, and other family members are taken care of when that person passes on.

Read more about the true purpose of estate planning here. 

Family Limited Partnerships in Your Estate Plan - Now is the Time to Take Action

Establishing a family limited partnership can be helpful in business succession planning, business continuity plans, and as a component of your estate plan. It is especially helpful if you own real estate, a family business, and concentrated positions of publicly traded stock. However, the IRS is starting to scrutinize these partnerships and has proposed a new regulation, specifically a revised version of Section 2704 that could have a dramatic impact on your estate planning by eliminating valuation discounts.

If you are looking to minimize your future estate tax this is critical and time is of the essence. Once the revised Section 2704 is in effect, which could be around the end of calendar year 2016, the ability to claim discounts might be substantially reduced or eliminated thus curtailing your tax and asset protection planning flexibility.

Learn more by reading the full article on my firm's website. 

Friday, November 13, 2015

Long-Term Care Awareness Month

November is long-term care awareness month and InSight Law is taking the lead in spreading the word and promoting the importance of having a long-term care plan in place. Check out some of our recent articles on this important topic:

In addition to those article, check out this informative video about long-term care:

Tuesday, October 27, 2015

Does Your College-Aged Child Have an Estate Plan?

If the answer is no, you need to take the time to sit down with them, hopefully along with your estate planning attorney, to draft a basic Last Will and Testament, durable power of attorney, and medical directive. At InSightLaw, we make the process as simple as possible by offering a straight-forward, no-nonsense estate plan for your child and access to a Docubank card so you and your child can get these important documents online. Learn more here:

Simple Estate Planning For Your College-Aged Kids

Inheriting a Large Estate Comes With a Myriad of Challenges

Many people mistakenly believe that inheriting a large estate is some wondrous thing akin to winning the lottery. All of sudden, you are presented with access to vast sums of money, large pieces of property, etc. Such assets can completely change your standard of living. Nevertheless, there are numerous “burdens” associated with inheritance. Learn about these challenges here:

The "Burden" of Inheritance

Monday, August 10, 2015

Simple Wills Simply Don't Exist

I published a blog recently discussing the misconception that a Last Will and Testament can be a relatively "simple" document. Obviously, estate planning attorneys strive to make a complex issue relatively simple so their clients can understand the ramifications of a tax or inheritance issue. However, it amazes me how many times a prospective client will say they want a "simple will" and then delve into the myriad business interests they own, the properties held in multiple states, and their three kids from two marriages. In that scenario, "simple" is relative.

Learn more here:

Tuesday, July 21, 2015

Even Tom Brokaw Doesn't Know What's in His Estate Plan...

Savings Bonds - How These Often-Overlooked Investments Could Be Quite Valuable

Over $9 billion worth of savings bonds and $200 million in registered Treasury securities haven’t been cashed in by the owners, according to Why is so much money simply in limbo? Well, many clients who purchased savings bonds decades ago, may have even forgotten that they purchased the bonds, or they received them as a gift from a relative and may have the bonds stashed away in a random cabinet or closet.

To learn more, check out my blog:

Thursday, June 11, 2015

What Will Be Your Facebook Legacy?

Facebook is now giving users the power to name a "legacy contact" who will be empowered to manage your profile after you pass away. In a sense, they're like a “Techexecutor.” The obvious benefit is allowing you to determine who manages your Facebook page. The current policy was for Facebook to simply freeze the account, which caused frustration and emotional stress for loved ones. 

Legacy contacts will have the power to write a post to display at the top of your memorialized profile page, change the profile picture, and even respond to new friend requests on your behalf. If they’re granted prior permission, legacy contacts can also download an archive of posts and photos from the deceased, but not the contents of his or her private messages.

To learn more, check out my blog here.

Wednesday, May 20, 2015

3 Mistakes Many Executors Make...And How to Avoid Them

I recently published a blog talking about three common mistakes that new executors make quite often. I want to help ensure executors avoid these preventable mistakes since these errors can have costly consequences. Check out the blog here:

3 Common Mistakes Executors Make and How to Avoid Them