Business succession planning ensures that your business — whether a family shop, professional practice, or manufacturing company — endures beyond your involvement. By defining your goals, identifying successors, formalizing agreements, and coordinating with your estate plan, you can protect the value of your business and provide for the people who rely on it. Consult with attorneys, accountants, and valuation experts to craft a plan tailored to your unique situation.

Married couples in the United States may live in either community property states or common law (separate property) states. The distinction affects how your property is owned, how it is divided upon death or divorce, and how it is taxed at transfer. With remote work and post‑pandemic relocation trends, more families are crossing state lines than ever before, making it critical to understand how property regimes impact your estate plan. This guide explains the key differences.

Special needs trusts are vital tools for families who want to provide for loved ones with disabilities without jeopardizing means‑tested benefits. By understanding the types of special needs trusts, carefully selecting trustees, funding the trust appropriately, and adhering to benefit rules, you can ensure that your beneficiary enjoys a high quality of life now and in the future. Work with experienced attorneys and advisors to build a plan that integrates the trust with other

In today’s global society, it’s increasingly common for a U.S. citizen to be married to a spouse who is not a U.S. citizen. While most estate planning rules assume both spouses are citizens, mixed‑citizenship couples face unique challenges. The unlimited marital deduction—a central feature of the U.S. estate tax system—does not apply automatically when assets pass to a non‑U.S. citizen spouse. To avoid immediate estate taxes on the first spouse’s death, careful planning is re

Learn how Qualified Personal Residence Trusts (QPRTs) can reduce estate taxes and preserve your home for heirs. We explain how QPRTs work, the tax benefits and risks, and offer guidance on choosing the right term, addressing maintenance costs and insurance, and combining QPRTs with other estate‑planning tools. Updated for August 2025, this guide reflects the new $13.99 million estate tax exemption and the looming rise to $15 million in 2026.

Artificial intelligence is reshaping the trust and estate landscape. Trustees can harness AI to improve efficiency, manage investments, and analyze taxes. However, AI is not a substitute for thoughtful legal advice, personalized planning, or ethical judgment. Understanding AI’s capabilities and limitations allows trustees to integrate technology prudently and protect the long‑term interests of beneficiaries.

The SECURE Act and SECURE 2.0 represent the most significant changes to retirement account inheritance in decades. For trustees administering special needs trusts, these laws create opportunities to preserve tax benefits, maintain public assistance eligibility, and incorporate charitable legacies. They also require action: updating trust documents, coordinating beneficiary designations, and educating families. Staying informed allows trustees to navigate these rules confident

Staying on top of your estate plan is essential for protecting your family and preserving wealth. This guide explains why experts recommend reviewing your plan every three to five years or whenever a major life event occurs. Learn how marriage, divorce, births, deaths, new assets, relocation and tax law changes—including the 2026 increase of the federal estate tax exemption to $15 million palmcitylawyer.com —should trigger updates, and discover practical steps for keeping up

Climate change poses new challenges for real estate investors, and trustees must adapt. By understanding climate risks—rising seas, extreme weather, wildfires and heat—trustees can evaluate their portfolios, diversify holdings, invest in resilience, obtain appropriate insurance and decide when to divest. Incorporating climate considerations into investment policies and communicating with beneficiaries ensures that trust assets remain secure in a warming world.

Estate planning is complicated when you live abroad but still have assets or beneficiaries in the United States. Learn how U.S. citizens and residents overseas can navigate estate and gift tax rules, update wills and trusts, coordinate with foreign laws, and avoid common cross‑border pitfalls. This guide highlights the importance of communicating with heirs and addresses new tax laws and property considerations as of August 2025

Digital assets are no longer a niche concern. From cloud‑stored memories to cryptocurrency portfolios, much of a person’s wealth and history now exists online. Trusts and estate plans must evolve to protect this digital footprint. By creating a comprehensive inventory, including clear provisions in legal documents, appointing a knowledgeable digital executor, and maintaining strong security practices, you can ensure these assets are preserved and distributed according to the

Long term care costs are rising and Medicaid is a lifeline for many seniors, but qualifying without spending down your life savings requires careful planning. This guide explains Medicaid eligibility rules, including the 2025 asset and income limits and spousal allowances, the five year look back period and penalty calculations and proven strategies like spending down, income only trusts and irrevocable Medicaid asset protection trusts. Learn how early planning can shield you

With nursing home costs soaring and Medicaid eligibility rules tightening, many families worry about losing their life savings to long‑term care. A Medicaid asset protection trust (MAPT) is an irrevocable trust designed to shield a home and other assets from being spent down while still qualifying for Medicaid benefits. This comprehensive guide explains how MAPTs work, the five‑year look‑back rule, state variations, potential drawbacks, and the importance of early planning.

Cryptocurrency offers enormous potential for wealth creation, but it also introduces unprecedented complexity. Trustees must balance security, regulatory compliance and tax strategy while respecting the grantor’s wishes. The key lessons are clear: inventory digital assets, secure and document access, select knowledgeable fiduciaries, and use trust structures strategically. With proper planning, crypto can enhance an estate rather than complicate it. Without planning, it can e

Estate planning is an act of love and responsibility. For single parents, it provides peace of mind that your children will be cared for, your finances will be managed according to your wishes and your legacy will endure.

ESG investing isn’t just a passing fad—it reflects a broader desire to use wealth responsibly. Trustees can accommodate this desire if they act prudently and communicate effectively. Start by clarifying the trust’s purpose and updating documents to authorize ESG considerations, then conduct thorough research, engage experienced advisors and keep beneficiaries informed. Sustainable investing may enhance family harmony, but it must be handled with the same care and diligence as

Creating a trust is an important step toward protecting your family and simplifying the transfer of your assets. However, a trust without funding is like an empty safe: it may look solid, but it does nothing to safeguard your valuables. Proper funding avoids probate, ensures privacy, preserves your intentions, minimizes tax and protects you in case of incapacity. Conversely, failing to fund your trust can lead to delays, expenses and disputes.

Managing a cross-border trust requires more than financial acumen—it demands legal awareness, cultural sensitivity, and logistical flexibility. The most successful trustees: Stay current on both U.S. and foreign tax obligations, Leverage local expertise when possible, Build flexibility into distribution methods and schedules, Use technology strategically and securely, Maintain open, clear communication with beneficiaries.

Estate planning empowers LGBTQ individuals to define their legacy, protect chosen family, and ensure their values are honored. It offers legal protection against discrimination, estranged relatives, and outdated laws. By drafting wills, trusts, powers of attorney, health care proxies, and guardianship designations, individuals control who inherits property, who makes medical decisions, and who will care for children and pets.

Choosing the right successor trustee is about balancing trust, competence, impartiality, and availability. Whether you’re making the choice for your own estate or advising someone else, the goal is to select a trustee who will honor the trust’s instructions, manage assets responsibly, and keep things running smoothly for the beneficiaries.