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August 2017 Archives

Estate planning isn't only for what happens after death

Wills, trusts and beneficiary designations are words often associated with planning for what happens after a Delaware resident's death. What about words like power of attorney, health care directive and living will? These aspects of estate planning are equally as important to the process because they focus on taking care of an individual during life in the event that they become unable to make decisions for or otherwise take care of themselves at some point due to age, accident or illness.

How do the kids fit into estate planning?

Many Delaware residents between the ages of 53 and 71 may make up part of the 60 percent of baby boomers who have already made arrangements for the distribution of their property after death. The other 40 percent may still be considering how best to leave their assets to their children. Fortunately, estate planning provides numerous methods for achieving their goals.

Not married to your partner? Estate planning is still crucial

Many Delaware couples decide that marriage is not for them. They do not feel that they need a legal document to remain in a committed relationship. That may be true of a marriage license, but when it comes to estate planning, unmarried couples need certain legal documents in place just like their married counterparts. In fact, it may be even more important for those who are not married.

What does estate planning look like for you?

Less than half of Americans have prepared for their death or the possibility of becoming incapacitated. This includes many people here in Delaware who have yet to engage in any estate planning. Many may be under the impression that it only helps older or richer people, but that is not the case. Every adult could benefit from having an estate plan.

Consider federal estate taxes in estate planning

No one looks forward to paying taxes, and Delaware residents are no exception. Some people face the possibility of paying taxes even after they die through the assessment of federal estate taxes, which they may consider worse than paying them while alive. Fortunately, the appropriate estate planning may reduce -- if not eliminate -- the need to pay those taxes.

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Camden Office
306 East Camden Wyoming Avenue
Camden, DE 19934

Phone: 302-697-4900
Fax: 302-697-4901
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Lewes Office
33718 B Wescoats Road
Lewes, DE 19958

Phone: 302-644-7181
Fax: 302-644-7182
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