Learn about Estate Planning in Your New State
When moving to a new state, you may have to sever some or all of your ties to your former state. Half measures can leave you open to tax claims by your former home state.
Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
Estate planning services refer to the process of managing and distributing one’s assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.
When moving to a new state, you may have to sever some or all of your ties to your former state. Half measures can leave you open to tax claims by your former home state.
As you’re making your estate plan, you’ll want to carefully consider everything. This means it may take a while to complete your plan. Here are five things to watch out for along the way.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
Should we take Medicare or keep an employer health plan?
For many, there are potential benefits to continuing a life insurance policy or purchasing certain types in retirement, when it comes to taxes, estate planning and long-term care. Here are some ways to use a life insurance policy that you may not know about.
If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
As we enter into a new era of tax code proposals from the Biden administration, it’s important to be thinking about what those changes may mean when planning for the upcoming tax season and retirement.
For the average recipient, the 2021 monthly increase doesn’t even cover a fill-up at the gas station — but it beats nothing.
If you have a mortgage, you might worry about what that means for your heirs and loved ones. Will they be able to keep your home, and who will be responsible for paying for it?
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be carrying out a person’s final wishes.