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Estate Planning for Disabled Beneficiaries

Posted by on Jan 27, 2014 in Blog | Comments Off on Estate Planning for Disabled Beneficiaries

While any estate planning strategy requires considering a range of issues like tax consequences, probate avoidance, asset protection and more, the situation becomes significantly more complicated when the plan includes a beneficiary with special needs. When developing an estate plan that includes beneficiaries with special needs and disabilities, the nature of the disability, mental or physical limitations and government assistance being received must all be considered. Many people who are disabled qualify for public benefits programs but can easily become disqualified by an inheritance...

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Asset Valuation for Estate Tax Purposes in a New Mexico Will Administration

Posted by on Jan 24, 2014 in Blog | Comments Off on Asset Valuation for Estate Tax Purposes in a New Mexico Will Administration

Although most people think that they have a fairly good idea about the value of their assets, sometimes determining the value of property can be complicated. Property that is more difficult to value may include stock options, antiques, art, collectibles, and similar assets. Appraisals may be appropriate for certain assets when an estate is administered after passing away, but this still does not address the issue of the appropriate time to determine an asset’s value. While most assets that are to be distributed under a will are valued based on the date of death, assets may be evaluated on...

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Avoiding Mistakes When Designating a Beneficiary Personal Accounts

Posted by on Jan 22, 2014 in Blog | Comments Off on Avoiding Mistakes When Designating a Beneficiary Personal Accounts

Although there are many facets of an estate plan, one that many take for granted involves the designation of a beneficiary to a life insurance policy, retirement account, or saving account.  The process of deciding on and providing the name of a beneficiary would seem fairly straightforward.  However, there are important issues to be considered when naming a beneficiary to these types of assets.  Given the significant amount of funds that may be associated with these assets, beneficiary planning is an issue that cannot be taken lightly.  Our New Mexico Attorneys have listed a number of...

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Five Important Questions Asked by Parties Considering a Divorce in New Mexico

Posted by on Jan 20, 2014 in Blog | Comments Off on Five Important Questions Asked by Parties Considering a Divorce in New Mexico

When marital partners consider the prospect of terminating their marital status, it is inevitable that there will be a torrent of questions because of the sweeping changes that marital dissolution brings for both spouses. Divorce often impacts their financial security, monthly household income, place of residence, parent-child relationship, portfolio of assets and more. Put simply, the effects of divorce touch on virtually all aspects of the lives of the divorcing spouses. Although there are many concerns and questions that are common, our Family Law Attorneys in Santa Fe, NM have provided...

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Initial NM Estate Planning Matters: Getting Your Affairs in Order

Posted by on Jan 14, 2014 in Blog | Comments Off on Initial NM Estate Planning Matters: Getting Your Affairs in Order

The demands of family and work responsibilities continues to consume a growing portion of American’s time which often leads people to procrastinate about tasks that can have a significant impact on their future security. NM Estate planning involves critical issues regarding financial security, incapacity planning, and succession planning, but it also is an issue that is sometimes postponed with the thought that it involves future rather than current concerns. However, the types of life events that make NM estate planning arrangements relevant can happen suddenly like car accidents,...

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Key Facts Everyone Needs to Know about Living Trusts in Santa Fe

Posted by on Jan 10, 2014 in Blog | Comments Off on Key Facts Everyone Needs to Know about Living Trusts in Santa Fe

The attorneys at our Santa Fe Estate Planning Law Firm recognize that many people do not understand the value of a living trust as a financial planning tool. When one’s estate plan is founded on an artfully drafted living trust, it can provide peace of mind and financial security for both the trustor who makes the trust and beneficiaries. When the living trust is revocable, it also affords the drafter with the additional benefits of flexibility in terms of permitting changes in the future. We have provided an overview of key facts that are important to know if you anticipate making a living...

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