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Kelly Holloway: EDHD Estate Planning

Recent Activity

How Do You Plan for the Death of a Spouse?

“Beneficiary designations, tying up loose ends, reporting last wishes—here’s what you can do now.” Continue reading

Posted Feb 23, 2021 at EHDH Estate Planning

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How Do I Disinherit My Child?

“When these types of situations arise, there are many steps you can take to avoid your will from being contested by individuals who believe they are entitled to receive your assets.” Continue reading

Posted Feb 23, 2021 at EHDH Estate Planning

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Can You Amend a Power of Attorney?

“If the durable power of attorney can't be transferred, what needs to be done to establish a new durable power of attorney for my aunt despite her mental incapacity?” Continue reading

Posted Feb 23, 2021 at EHDH Estate Planning

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Can You Be Forced to Inherit a Timeshare?

“Many timeshare contracts include a perpetuity clause, which means the contract and all its fees and obligations are yours for life. It may not end there.” Continue reading

Posted Feb 23, 2021 at EHDH Estate Planning

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Does an Estate Plan Need to Change because of the New Administration?

“Now that there is a Democratic majority in the Senate and the House of Representatives, estate and gift tax law changes are expected to occur in 2021 or 2022.” Continue reading

Posted Feb 23, 2021 at EHDH Estate Planning

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Should You Gift Stocks as Part of Your Estate Plan?

“Gifting stock to family members may lack the pizzazz of leaving a luxury car adorned with a bow in the driveway, but it’s a gift that can add value to their lives long after most other gifts have been forgotten.” Continue reading

Posted Feb 12, 2021 at EHDH Estate Planning

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Divorce, Death and Details: Missteps can Create Estate Planning Disasters

“After the divorce, Mike logged onto the employer’s benefits system and tried, but failed, to delete Wendy as the beneficiary of his life insurance.” Continue reading

Posted Feb 12, 2021 at EHDH Estate Planning

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Can Unmarried Couples have an Estate Plan?

“The couple needs to create an appropriate estate plan. If they truly want inheritance rights, they need to execute testamentary documents, such as wills.” Continue reading

Posted Feb 12, 2021 at EHDH Estate Planning

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How Much Tax Do You Pay on Inheritance?

“The death of a loved one is always a difficult time. The last thing most people want when they're grieving is to have to deal with the IRS and state tax officials.” Continue reading

Posted Feb 12, 2021 at EHDH Estate Planning

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Control of Assets a Key Issue in Deciding on a Trust

“Avoiding probate usually is the main appeal for living trusts. Trusts also can provide a gentler transition, if the grantor becomes incapacitated.” Continue reading

Posted Feb 12, 2021 at EHDH Estate Planning

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Protect Your Estate from Nursing Home Costs

“No one wants a nursing home but the longer we live, the higher the chance we may need a nursing home at the end of life.” Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Do We Need Estate Planning?

“Everyone, regardless of financial status or age, can benefit from having an estate plan—assuming you have assets to leave and people to leave them to.” Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Some States Have No Estate or Inheritance Taxes

“As states address budget woes due to the pandemic, one place they may turn to for revenue as they have in past economic crises is death taxes.” Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Are Retirement Accounts Divided in a Divorce?

“Gray divorce issues include weaving through the complications of splitting pensions, 401(k)s and more before the process is complete.” Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Does a Trust Have to Be Funded to Be Valid?

“If you don’t also fund it, unexpected things can happen and some of those things may not reflect the intent to the grantor.” Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Including Noncitizens in Your Estate Planning

With our society becoming increasingly mobile and international travel becoming more affordable than ever before, families and family-like relationships have steadily grown far more diverse in terms of citizenship. It is no longer uncommon for spouses from different countries to retain citizenship in their native countries. Many couples split their... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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What If I Can't Find My Loved One's Documents?

If a loved one has recently died or become mentally incapacitated, finding the person’s estate planning documents is essential. The estate planning process and associated documents are critical to making decisions on the loved one’s behalf, gaining access to accounts, and discovering your deceased loved one’s wishes regarding how to... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Ways to Leave Your Real Estate to Your Loved Ones (and the Pros and Cons)

Owning real estate continues to be a very popular investment vehicle for individuals and couples alike. One attractive feature of investing in real estate is that investment property can also double as a personal residence. In other cases, real estate investments may be rental, recreational, commercial, or farm properties. Whatever... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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What If No One Wants My Stuff?

A critical question to ask yourself when creating an estate plan is who will get your stuff when you pass on? While most people think about who they would like to receive the major items—homes, retirement accounts, savings—personal property such as jewelry, clothing, sports equipment, vehicles, and other possessions are... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Reviewing Your Accounts and Property upon the Death of a Loved One

How your accounts are owned makes a big difference in estate planning. The main objective is usually to ensure that no accounts and property are in only your name when you die. Otherwise, they will be subject to probate, a costly, public, and time-consuming court process that many people prefer... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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Reviewing Your Estate Plan after the Death of a Loved One

The death of a loved one is never easy. Regardless of your relationship with the deceased (blood relative, life partner, or close friend), you need space and time to process and grieve your loss. Once you have had time to cope with all that has happened, you should consider updating... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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My Loved One Has Died - What Do I Do Now?

When a family member or other loved one dies, grief and shock can sometimes be overwhelming. The last thing most people want to think about is making phone calls or funeral arrangements. Some things do not need to be done immediately, but there are some steps that should be taken... Continue reading

Posted Feb 9, 2021 at EHDH Estate Planning

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What States Make You Pay an Inheritance Tax?

“As if losing a loved one weren’t hard enough, you might also have to add ‘death tax’ on the property that you receive from the estate—depending on where you live—in addition to all the other costs of death.” Continue reading

Posted Jan 29, 2021 at EHDH Estate Planning

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It Is Important to have a Digital Estate Plan

“What happens to all your digital accounts, services and property after you die? The official name for all these is a Digital Estate Plan. With the lines increasingly blurred between our on-and off-line lives, it's more important than ever to have a plan for your digital holdings.” Continue reading

Posted Jan 29, 2021 at EHDH Estate Planning

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Wealthy Women Face Challenges in Estate and Tax Planning

“Given the expectation the Biden administration will roll back some of Trump’s favorable policies of the past four years, tax consultants and accountants are already hard at work. But for HNW women, dealing with election fallout is minor, compared to the bigger fish they have been frying in the tax pan for decades.” Continue reading

Posted Jan 29, 2021 at EHDH Estate Planning

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