Kulas & Crawford

Do I Lose Control of Trust Assets?: If you are contemplating the addition of a trust into your estate plan for the first time, you likely have many questions. You will also need to make many decisions if you do decide to add a trust to your estate plan. One concern people often have is whether they lose control over trust assets […] The post Do I Lose Control of Trust Assets? appeared first on Kulas & Crawford.

10 Things Everyone Should Know When Estate Planning: Despite what many people believe, estate planning is not just for the wealthy. It’s for everyone. Proper estate planning ensures that your assets are distributed according to your wishes, ensures that your wishes are honored, and provides for your loved ones after you are gone. Whether you are just starting your estate planning journey or […] The post 10 Things Everyone Should Know When Estate Planning appeared first on Kulas & Crawford.

How Estate Planning Helps You to Retain Your Decision-Making Authority: While your initial estate plan may focus on how your assets are distributed after you are gone, a more complete estate plan should include additional components, such as incapacity planning. If you become incapacitated, someone will have to make decisions for you and take over control of your assets. To help make sure you are […] The post How Estate Planning Helps You to Retain Your Decision-Making Authority appeared first on Kulas & Crawford.

What Taylor Swift Can Teach Us About Estate Planning: Regardless of your feelings about her music, her attendance at National Football League games, or anything else related to the popstar, it’s hard to argue that Taylor Swift isn’t a cultural phenomenon. In 2023, Taylor launched a multi-city tour that broke records for attendance, sales, merchandising, and gross revenue; the Federal Reserve credited her with boosting the country’s economy; and Time magazine named her Person of the Year. While interesting, these statistics only tell part of the story. When Taylor Swift takes action, her legions of fans, called “Swifties,” take notice. Often, blogs about celebrities focus on what went wrong, here, it’s about what went right. The post What Taylor Swift Can Teach Us About Estate Planning appeared first on Kulas & Crawford.

Am I Obligated to Serve as Executor If I Was Appointed?: Losing a family member or loved one is difficult enough to process and handle without adding additional stress. If you also learn that the decedent appointed you to be the Executor of the estate, you may not feel emotionally or practically able to perform the job. Are you obligated to serve as the Executor if […] The post Am I Obligated to Serve as Executor If I Was Appointed? appeared first on Kulas & Crawford.

Are You Prepared for the Estate Tax Exemption Rollback?: While deciding how you want your assets distributed after you pass away may be your primary estate planning goal, protecting those assets should be an equally important estate planning goal. To successfully achieve that objective, you need to understand current tax laws and incorporate those laws into your overall estate plan. To get you started, […] The post Are You Prepared for the Estate Tax Exemption Rollback? appeared first on Kulas & Crawford.

The Seedier Side of the Holiday Season: Scammers will use any leverage possible to separate you from your money. This includes preying upon a grandparent’s love and concern for their grandchildren. The so-called grandparent scams are among the most popular scams targeting the elderly and rely upon details gleaned from social media sites to make the call seem realistic. It’s important to recognize the signs of potential scams and understand how to guard against them. The post The Seedier Side of the Holiday Season appeared first on Kulas & Crawford.

When Do I Need to Update Beneficiaries in My Estate Plan?: One of the most important and useful gifts you can give to your loved ones is to have a comprehensive estate plan in place that ensures that are protected and financially secure if something happens to you. If you have that plan in place, do not forget to update that plan from time to time […] The post When Do I Need to Update Beneficiaries in My Estate Plan? appeared first on Kulas & Crawford.

Tax Planning for 2024: Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2024 is just starting, it’s not too early to think about planning for whatever it may bring your way. The post Tax Planning for 2024 appeared first on Kulas & Crawford.

Should I Put My Adult Child on the Deed to My House?: As you age, you may start to focus more on passing down your assets to your loved ones. For example, if you own your home, you may want to make sure that an adult child gets the home after you pass away. While it may seem like a quick and easy way to ensure that […] The post Should I Put My Adult Child on the Deed to My House? appeared first on Kulas & Crawford.