Love is love, but estate planning for the LGBTQ+ community can be more complex than it should be. While significant strides have been made towards equality, there are still legal nuances to consider to ensure your wishes are respected and your loved ones are protected. This blog post will explore some key elements of [...]
Estate planning isn't just about who gets your stuff – it's about making the transition as smooth and stress-free as possible for your loved ones. One of the biggest hurdles they might face? Probate. Probate: A Time-Consuming and Costly Ordeal Probate is the court process that oversees the distribution of your assets after you [...]
Irrevocable Grantor Trusts (IGTs) have been a popular tool for estate planning. They help you reduce estate taxes, avoid probate, and distribute assets according to your wishes. But a new IRS ruling (Revenue Ruling 2023-2) throws a wrench into things. Let's break down what this means for you. What are Irrevocable Grantor Trusts (IGTs)? [...]
Reasons to start estate planning this Spring are all about getting a fresh start! Spring has sprung! The birds are chirping, flowers are blooming, and there's a fresh sense of renewal in the air. It's the perfect time to tackle that spring cleaning list, but what if we told you there's an even more [...]
Wills and trusts may seem like just documents to some, but they are the foundation of protecting your legacy. Estate planning can feel overwhelming, especially when terms like "wills" and "trusts" get thrown around. You know you want to ensure your loved ones are taken care of after you're gone, but navigating these legal [...]
A Spousal Lifetime Access Trust (SLAT) may be a tool that you need in your estate planning to stay ahead of taxes. In the world of estate planning, the landscape is ever-changing, with tax laws and regulations in constant flux. Recent proposals to alter federal estate and gift tax exemptions serve as a stark [...]
How do you preserve generational wealth? In today's fast-paced world, where financial stability and security are paramount concerns, building generational wealth has become a significant goal for many families. Generational wealth isn't just about accumulating riches for oneself; it's about ensuring that those assets are preserved and passed down to future generations. At Lexern [...]
Life insurance in estate planning is a crucial aspect of financial management often overlooked or delayed by many individuals. Yet, it holds significant importance in securing the future for your loved ones and ensuring your assets are distributed according to your wishes. Among the myriad tools available for estate planning, life insurance stands out [...]
Irrevocable Life Insurance Trusts may alleviate heavy tax burdens on your estate. Are you aware your life insurance policy may bring a heavy tax burden along with it? Many individuals and families are unaware of how their life insurance policies may affect their estate plans, especially those with significant wealth. But fear not, there's [...]
In an increasingly digital age, our lives are intricately woven into the fabric of the online world. From financial accounts to cherished memories captured on social media, our digital footprint holds a significant part of our legacy. Yet, many individuals overlook the importance of including digital assets in their estate planning. Let's explore why [...]
