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Estate Planning

Estate Planning is the process of determining how your wealth and assets should be transferred to the heirs of your choice: your children, grandchildren, friends, families, charitable causes, etc. and then deciding which legal tools and structures to use to best meet your estate planning goals.

Estate planning is not simply reducing or eliminating taxes and avoiding probate.  Only after establishing how you want your estate’s assets to be distributed should you consider ways to reduce taxes and avoid probate. From there, good estate plans deal with a host of other issues. Now, with all but a few estates exempt from the federal estate tax, those other issues are, or should be, at the forefront of estate planning.

An estate plan is to ensure that you are taken care of the rest of your life and that your wealth is transferred to the people you want to have it. A good estate plan ensures these goals are accomplished with as much efficiency and as little cost as possible. An estate plan addresses the management and distribution of an individual’s property and financial obligations after he or she dies with financial tools such as wills, revocable living trusts and power of attorney.

For a comprehensive overview of Estate Planning, please start with our article:


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estate planning

Understanding the Last Will and Testament

January 24, 2021

The terms “last will and testament” and “will” often are used interchangeably and today mean the same thing. Both refer to a legal document that outlines a person’s final wishes regarding the distribution of assets and property after death and often other matters, such as the guardianship of minor children. Will is often used as […]

How To Simplify the Probate Process

January 10, 2021

In last week’s issue of Retirement Watch Weekly I presented 10 Steps to Avoid the Probate Process. Since this can be a complicated process, I’ll expand on those and explain the most commonly used probate forms. Probate can be a long and expensive process in which an estate is settled and distributed to the next […]

estate planning

10 Steps to Avoid the Probate Process

January 3, 2021

Happy New Year! A few months ago on the pages of Retirement Watch Weekly, I shared a story called: What You Need To Know about the Probate Process. This was a very popular topic with my readers, so I decided to expand on it. Let’s begin with a recap of exactly what probate is. In […]

The New Rules of Estate Planning

January 1, 2021

To read the special report, please click here.


What you don’t know about retirement can hurt you. In fact, just a few wrong decisions in your investments, taxes, or estate planning could completely derail your retirement plans. Worse yet, the rules of the game keep changing, making it harder to keep up. For these reasons, I’ve assembled all the key points – everything you need to know — into one comprehensive report. Click here today for free access.

estate planning

Guide to Wills: The Definitive Guide to Your Last Will and Testament

December 4, 2020

  Guide to Wills: The Definitive Guide to Your Last Will and Testament addresses one of the most important documents for guarding wealth, providing for loved ones, and achieving other goals.    Regardless of the size of an estate, the will is a critical part of an estate plan. It guides the distribution of assets […]


How to Get an Estate Tax ID Number

November 12, 2020

  The federal estate tax is a tax paid after a person’s death on the value of the person’s property.    A large amount of an estate is exempt from the federal estate tax. In 2021, the exempt amount is $11.7 million. The amount is indexed for inflation each year. So, only the wealthiest estates […]

estate planning

How to Reduce or Avoid Estate Taxes

November 12, 2020

  The federal estate tax is a tax on the value of property a decedent owned at the time of his or her death.   The tax is paid only by estates that exceed the exemption amount, which is $11.7 million for 2021. It is indexed for inflation each year.    Tax rates range from […]

Estate Planning

Understanding the Estate Tax

November 12, 2020

  The federal estate tax is paid on the value of property a person owned at the time of his or her death.   In 2021, the federal estate tax only applies to estates with values exceeding $11.7 million. The amount is indexed for inflation each year.   How Estate Tax Works   To determine […]

March 2021:

Congress Comes for your Retirement Money

A devastating new law has just been enacted, with serious consequences for anyone holding an IRA, pension, or 401(k). Fortunately, there are still steps you can take to sidestep Congress, starting with this ONE SIMPLE MOVE.

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