Category: Estate Planning

Estate and Inheritance Tax

Many years ago, Will Rogers said, “The difference between death and taxes is death doesn’t get worse every time Congress meets.” If you’ve ever tried to navigate the ins and outs of estate and inheritance taxes, you may agree, as they tend to cause a lot of confusion. In fact, wondering what is owed in taxes is the number one question we at Coyle Financial receive from surviving spouses and heirs.

Discussing Your Estate Finances with Your Children

The journey of a thousand miles begins with a single step. This applies to many things in life, and it certainly applies when sharing information about your money with your children and grandchildren. It’s not always an easy subject to broach, but it doesn’t have to be done all at once. It can be done very slowly, both through actions and conversations, over time.

What You Need to Know About Domiciling in Florida

Winters in our northern climate can be brutal, though these sunny summer days can make us forget just how cold and dreary Midwest winters tend to be. Come winter, many of us long to move to warmer climates, and for those who own homes in Florida, it may be something to consider.

10 Must-Have Documents

Here at the office, we have a picture which appeared in The New Yorker magazine back in the 1940s. In it, you see an elderly gentleman sitting next to his lawyer and the caption reads, “Now read me the part again where I disinherit everyone.”

Live Better, Prepare for Longevity

Recently, one of our clients sent me an article from Barron’s on how seniors are living longer and, many times, are unprepared for that longer life. Back in the 1960s and 70s, most people died in their 60s or 70s and within five or ten years after retirement, so there wasn’t much to be concerned about. They didn’t have to worry about outliving their money, or developing dementia, Alzheimer’s, and everything else that can come with old age.

Guest Spotlight – Shannon Hartzler, Estate Planning Attorney

My name is Shannon Hartzler, and I am an estate planning attorney. One of the most common phone calls I get in my practice is, “Hey, my dad died, and he named me as executor, what do I do?” I am going to cover the things you will want to do when a loved one dies.

The Great Wealth Transfer

When you have big changes you know are coming up in your life, you typically do a lot of preparation. Perhaps it’s buying a house, having a child, maybe buying a second home, big things that require a lot of preparation. You don’t just jump in to them immediately and then think about the ramifications later.

Protecting Your Own

While it’s not easy being poor, in some ways it’s simpler since you don’t have many assets to protect or worry about. All right, let’s get real for a second, because we’re not poor. We have assets and, in particular, we want to protect those assets from a variety of unfortunate things that might happen to them. Let’s walk through a few scenarios.

Adaptive Estates

I attended another wake recently. In our business, it goes with the territory, and we have lost many dear clients over the years. You get used to seeing people going through the early grieving process. You know what they’ll be going through in the weeks, months and years ahead, but very often they don’t. Sometimes it’s OK and sometimes it’s pretty awful.

Top 5 Family Legacy Pitfalls

Ed Coyle, the founder of our firm who passed away recently, liked to say that legendary Chicago mayor Richard J. Daley failed the city by never leaving a successor. Ed liked to share that story when he was helping clients with estate planning, and today I want to cover five common pitfalls of family legacy planning.

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