5 Unique Estate Issues You Shouldn’t Ignore
When it comes to estate planning, most people think a will is enough. But as families and assets become more complex, so do the potential problems that can arise during estate administration.
Maximizing Your Estate Plan with LLCs: A Smart Strategy Before 2026
As we approach 2026, many people are looking for ways to protect their wealth and ensure their loved ones benefit as much as possible. One powerful tool in estate planning is the use of Limited Liability Companies (LLCs). LLCs offer flexibility and control, making them a smart choice for families and individuals with significant assets.
Estate Planning in 2025: Why Acting Now Can Save You Later
The year 2025 is an important one for anyone thinking about estate planning. That’s because some big changes are coming to federal tax laws. Right now, you can give away a lot of money without paying federal gift or estate taxes. But after 2025, the rules will likely change, and that could cost your family more money.
Estate Planning in West Virginia: A Simple Guide
Planning for the future is essential, no matter your age. Estate planning helps protect your family, your money, and your wishes. Making an estate plan in West Virginia is easier than you might think. Let’s go over the basic steps.
Succession Planning - The Most Important Business Plan a Small Business Owner Can Make
As a small business owner, you put your heart and soul into building your company. But what happens when it’s time to move on? Whether you are retiring, selling, or passing the business on to your children, you need a plan. That’s where succession and estate planning meet.
Secure Your Children's Future: An Introduction to Estate Planning for Working Parents
At The Skeen Firm, we understand the importance of securing your family’s future. So, let’s discuss estate planning for dual-income families with minor children. Implementing a comprehensive estate plan can help you guarantee that you protect and support your children, no matter what life may bring. Here, we’ll explain the critical components of an estate plan and how it can safeguard your family’s intellectual capital.
Trust Us—Trusts Aren’t Just For the Wealthy
If we have heard “I don’t need a trust because I am not rich” once, we’ve heard it a million times. If each time were worth a dollar, we would have a big marketing budget to bust this myth. What is at the core of this misconception? That is hard to tell. What we do know is that a revocable living trust is an excellent estate and long-term planning solution for many.
Essential Estate Planning
An essential estate package consists of five documents: a Last Will and Testament, a Durable Power of Attorney, a Durable Healthcare Power of Attorney, a HIPAA Release form and a Final Disposition Instruction sheet.
SECURE Act - Searching for a Stretch
The SECURE Act, short for Securing Every Community Up for Retirement Act of 2019, took effect in January 2020. Congress’ intent in passing the SECURE Act was to expand retirement options, particularly 401(k)s through small businesses and for part-time employees. Further, it opens avenues to protect retirement income by offering annuities through 401(k) plans. This means….Other improvements include postponing the required minimum distribution (RMD) age to 72. It also allows traditional IRA owners to make contributions indefinitely. All of these changes are geared to help Americans grow and preserve their retirement accounts.
Essential Estate Planning - The Legal House Protecting Your Family
A house and a sound estate plan have tremendous similarities that do not immediately meet the eye. Both are comprised of a firm foundation to build on, solid walls to protect all sides, and a roof to shelter when the proverbial sky is falling. But a house is a legitimate structure and an estate plan is just a bunch of legal documents with no foundation, walls, or a roof. What gives? The analogy unfolds below.