Sharon Ravenscroft Estate Planning Blog

Many of us with grown children, rely heavily on our friends and want to leave a legacy to our friends as much as our children and family. To do this, we can use a trust or even pay on death designations on accounts. "POD" accounts are useful but could create confusion if a friend is listed as a POD but our Wills leave everything to our family. Be s...

Many of my clients wonder if their trust should provide for their grandchildren directly or just their children. If the children are responsible then it is a good idea to leave assets to the children and let them take care of their children (your grandchildren). If the grandchildren are very young, then money will have to be left in trust. This cou...

If you have step-children, then you most certainly want your spouse to have a Will. If your spouse dies without a will, then one-half of the community property will go to the step-children, not the surviving spouse. If the assets are held "with right of survivorship" or a death designation, then the surviving spouse can receive the assets. However,...

Same sex couples truly can benefit from estate planning. A trust and powers of attorney can give legal authority to your loved one -- to help you if you are ill, incapacitated or even make sure the loved one receives your assets the way you want. For more information see the article on my website under About Living With People, Domestic Partners Sh...

Mention this blog or my Facebook page and receive 10% discount on fees related to the preparation of estate planning documents. Good through August 31, 2010.

Taking care of your family with the proper will and powers of attorney can give you peace of mind. Make sure the right persons take care of your assets and health care if you are sick, incapacitated or if you die. Now offering a 10% discount through August 31, 2010, on fees related to an estate plan by mentioning this blog, or my Facebook.

When we are ill, the last thing we need is for our family to be blocked from helping us -- with our medical care or with our financial needs. Powers of attorney are necessary so the RIGHT people can assist us when we are sick. Having a Trust makes sure that our families do not have to go through the court system just to get access to our assets. Tr...

I heard that someone kept their loved one alive through January 2 on machines just to take advantage that there is no estate tax law this year. Unfortunately, there also is no step-up in basis at death and so that family could be facing a very high capital gains tax. This was not a concern when there was an estate tax because there also was a step-...

Currently, there is no federal estate tax, but that does not mean there is no taxation at death. Instead, right now there is a capital gains tax that can be levied on any assets over $1.3 million (or $3 million for a spouse). Congress has been struggling with trying to adopt a law which will put the $3.5 million estate tax exclusion back in place--...