Tag Archives | estate planning

All IRAs Aren’t Created Equal

“Did you contribute to an IRA this year?”  It’s the question we’re asked at tax time every year.  If your answer is yes, irasare you sure you’re contributing to the right one?  Did you know that there are several different IRAs to choose from?  A conversation about remaining financially secure throughout retirement with someone already retired will quickly reveal that Social Security benefits aren’t enough.  Continue Reading →

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Trust Funding

Trust funding is one of the most important steps when creating a trust, yet it is also one of the most misunderstood trust fundingand poorly implemented.  While planning one’s estate, a trust is often created to avoid probate.  Probate is the public, often costly and time-consuming court process after you die to ensure your debts are paid and your assets are distributed accordingly.  All of the careful planning to provide for loved ones after your death, and thoughtful consideration put into how your assets are to be distributed will be for nothing if you do not fund your trust properly.  Continue Reading →

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The IRS Wants You To Have Angry Beneficiaries


Imagine you’re the personal representative (executor) of your uncle’s estate. In his will, he’s left $10,000 to a dear friend in Italy. Your attorney calls and says, “We need to get in touch with Sophia in Rome to let her know she needs to ‘register’ with the IRS.”

Your first reaction might be “Sophia is a bit of a hothead – she’s not going to like this one bit.” Your second reaction might be, “This sounds like something that could hold things up.” You could easily be right on both counts. Continue Reading →

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Get the Most from Your Benefits

Earlier this month we discussed how small business owners can reap the benefits from offering benefits.  This week benefits packagewe want to discuss how you, the employee can get the most from those benefits.  Health insurance and a 401k plan are a couple common perks that employers use to attract new employees, but there may be more that you aren’t taking full advantage of. Continue Reading →

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The Pros & Cons of Joint Tenancy with Right of Survivorship

A comprehensive estate plan deals with multiple types of property; from probate assets that pass through your will, Joint Tenancyto non-probate assets that pass outside a will via a trust or beneficiary designation, to jointly held assets, which pass automatically at the time of the first death.  One of the most common joint assets people hold is their home, which is most commonly held in “joint tenancy with right of survivorship.”  In situations where two or more people own property simultaneously as they do in joint tenancy there are both pros and cons that need to be considered when weighing its place in an estate plan. Continue Reading →

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Oakstone Law
1415 Panther Lane, Suite 439
Naples, Florida 34109
Tel: 239.206.3454