“Thought for the Day” #1298 – by Stephen R. Elville, J.D., LL.M.

October 10, 2019

Change in your world? Regardless of inevitable change, be it political, personal, health, financial, or other, your advisory team is your legal, financial, and tax/accounting backstop, and your estate or elder care plan, along with your financial and tax/accounting plans, should be the structural world within which change can be readily dealt with, ideally designed …

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“Thought for the Day” #1297 – by Stephen R. Elville, J.D., LL.M.

October 9, 2019

Pre-nuptial agreements, while highly advisable, are not appropriate for all couples. Even where significant economic disparity exists between future spouses, other factors such as love and affection, trust, commitment, and other emotional considerations may dictate that the couple will forego the otherwise sensible and legally sound approach. Although there are considerations for all future spouses, …

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“Thought for the Day” #1296 – by Stephen R. Elville, J.D., LL.M.

October 8, 2019

Because of the technical and procedural requirements for a valid, effective, and legally enforceable pre-nuptial agreement (including independent legal counsel for both parties and full disclosure of assets), and the sometimes uncomfortable and problematic situations that can arise between couples during the process of discussing and entering into pre-marital agreement negotiations, along with the possibility …

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Thought for the Day” #1295 – by Stephen R. Elville, J.D., LL.M.

October 7, 2019

According to the Wall Street Journal, 97% of all married or engaged couples do not have a pre-nuptial agreement. Of the roughly 3% of couples that do have a pre-nuptial agreement, many of those have not assured that certain process and procedural requirements have been met to ensure the enforceability of the agreement. This important …

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Thought for the Day” #1294 – by Stephen R. Elville, J.D., LL.M.

October 4, 2019

Many married couples are not aware that their non-retirement assets (non-IRAs and non-qualified plans) such as brokerage accounts can be titled as tenants by the entirety, one of the foundational forms of ownership for basic asset protection. If you are married, you should ask your financial advisor about this important issue.


Thought for the Day” #1293 – by Stephen R. Elville, J.D., LL.M.

October 2, 2019

Income tax considerations now drive the estate planning conversation. If you are not aware of these, you are missing a very important piece of the educational component that should be part of all planning. Your advisory team (estate planning attorney, CPA, and financial advisor) can and will assist you in gaining the working knowledge you …

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Thought for the Day” #1291 – by Stephen R. Elville, J.D., LL.M.

October 1, 2019

Children are central to successful elder care planning – specifically cooperative, trustworthy children. Where such harmony exists, not only are parents truly blessed, but the planning has the highest chance of success. Is it possible to implement successful elder-focused planning where there is little or no cooperation among children? Yes, but with greater risk. Every …

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Thought for the Day” #1290 – by Stephen R. Elville, J.D., LL.M.

September 23, 2019

Planning can be general and largely impersonal, with a certain vague element, as oftentimes happens in traditional estate planning (TEP) (transactional planning); or it can be clear, specific, and highly personalized (legacy-type planning) (non-traditional). The choice is yours through the careful selection of your planning team. Is it time to put vagueness into the background? …

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Thought for the Day” #1289 – by Stephen R. Elville, J.D., LL.M.

September 19, 2019

Many older estate plans (plans implemented prior to 2012, and particularly those plans created in the 1990s and early 2000s) contain dispositive provisions between husband and wife that are no longer necessary for most couples in this age of unprecedentedly high estate tax exemption amounts and portability. This is a technical-factual issue. But these once-necessary …

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