Legendary fashion designer Karl Lagerfeld’s beloved cat Choupette will reportedly inherit millions, leaving the cat to happily continue its luxurious lifestyle. While we all may not have a fortune to leave behind, Lagerfeld’s death shows it’s more than just fashionable to include your pet in your estate plans. Financial Advisor Magazine turns to Principal Jason Smolen on how to make sure your pet is cared for after you’re gone. Read more »

Nearly everyone owns some digital assets, like online bank and brokerage accounts, bill-paying services, cloud-based document storage, digital music collections, social media accounts, and domain names. What happens to these assets when you die or if you become incapacitated? Will someone even know the accounts exist? Jason Smolen and Dan Ruttenberg say the answer depends on several factors, including the terms of your service agreements with the custodians of digital assets, applicable laws and the terms of your estate plan. To reduce uncertainty, you should include digital assets in your estate planning. Read more »

Attention Charitable Donors. It is now harder to deduct your charitable donations. While a tax deduction isn’t the only reason many give to charity, you should still try to get the most benefit out of your charitable contributions. Read more »

Time to put aside your preconceived notions about millennials. It’s hard to believe, but some in the generation are starting to close in on their 40s. Born between 1980 and the mid-1990s, they have growing families, assets, bills and pets, just like other generations before them. And just like those previous age groups did when approaching life’s milestones, millennials need to start estate planning. “It’s no less important for this generation than for their parents,” say estate-planning attorneys Jason Smolen and Dan Ruttenberg of SmolenPlevy. Read more »

If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your estate plan. Although these intangible assets can have great value, in many ways they’re treated differently from other property types. Read more »

There’s no law that says you can’t prepare your own estate plan. And with an abundance of online services that automate the creation of wills and other documents, it’s easy to do. But unless your estate is small and your plan is exceedingly simple, the pitfalls of do-it-yourself (DIY) estate planning can be many. Read more »

When someone sees they’re named as executor in a will, they believe it is something they must do. However, that may not be what’s best for the person or what’s best for the estate. Being an executor is not a “have to do,” it should be a “want to do.” #ProbateNavigated asks SmolenPlevy’s Marissa Bagasra how to decide whether you should assume the role of executor. Read more »

A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. While making your young child the beneficiary of such assets may seem like an excellent way to provide for him or her in the case of your untimely death, doing so can have significant undesirable consequences. Read more »

Estate planning for a blended family can have unique challenges. Of particular concern: taking care of your children from previous relationships after you’re gone, while also providing for your new spouse. So how do you protect both? Read more »

The last thing you want your loved ones to be burdened with after you die is the overwhelming process of probate. Some probate periods are short, but others seem to never end. On The Probate Nation TV show, SmolenPlevy principal Dan Ruttenberg discusses good and bad probate avoidance techniques. Read more »

After a life filled with success and accolades, 95-year-old Stan Lee — famous comic-book writer, editor, film executive producer and publisher — surely didn’t want his sunset years to devolve into a nightmare of conflict and betrayal more fitting for one of his films than for real life. Since losing his wife, Joan, last year, Lee has been locked in battle both with family and associates over his financial affairs, all while struggling with failing health. His 67-year-old daughter, J.C., is but one of a cast of characters whom Lee says have “bad intentions.” Read more »

The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. In some cases, this includes providing parents with financial support. As a result, estate planning — which traditionally focuses on providing for one’s children — has expanded in many cases to include aging parents as well. Read more »

ABC 7 reports on how people are losing their property and more in probate court. They turned to SmolenPlevy’s Principal Dan Ruttenberg for tips on how to protect yourself. He advises it’s important to know when it’s time to consult an estate planning attorney to avoid trouble in probate court later. Read more »

If you have minor children, arguably the most important estate planning decision you have to make is choosing a guardian for them should the unthinkable occur. It’s critical to put much thought into this decision to ensure your children would be cared for as you wish in such a situation. Read more »