Estate Planning Forms and Documents Can Make A Difference

Good estate planning forms and documents are so important, It can be tricky to get them. Many places will offer you free estate planning forms to get you in. If you get free estate planning forms you will probably get quality comparable to what you pay for them. Because estate planning requires more than ...

For centuries the “last will and testament” was the standard for estate planning. Since the living revocable trust was introduced, the trust has become pretty much a standard in estate planning. Estates and trusts go together now like estates and wills used to go together.

However, it doesn’t matter how fancy you get with estates and trusts, the will is still a standard part of estate planning. Even if you get a living trust, you ...

I’ve had a question from a student about the “economic substance doctrine.” This has been a club that the IRS used against people for years. However, the ObamaCare legislation beefed it up and actually made it a law.

The IRS has always argued, and the courts have bought off on the idea, that if something you do is done primarily to save taxes, the IRS can “undo” your transaction. The fact is lots of things ...

ObamaCare is complicated. It is one of the largest tax increases in history. The 1099 issue that I talked about in my last email is very real. Hopefully it will be repealed, because it will create a nightmare for you and me.

I got some input from my students on the last email. I hope to step up my emails and the discussion with my ...

Estate Planning Mistakes and Tips

By Lee R. Phillips

Secret tips in estate planning aren’t really that secret. However, the attorneys “hide the ball” and speak in big words so that the general public can’t understand. After all, as an attorney you have to go to school for an extra three years, so that you can learn to speak and write so the public can’t understand. So in a sense, maybe there are a lot of secret tips in estate planning.
One of the biggest ...

Estate Planning Mistakes Introduction

Estate Planning Mistake No. 1: Do Nothing

Estate Planning Mistake No. 2: Blindly Trusting the Insurance Agent