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ARTICLES

Michael S. Winsten

Avoid Estate Planning Mistakes by Utilizing a Blend of Experts

Assembling the right professional team to create your estate plan can provide you with the best advice and legal documentation to protect your legacy for your heirs. Aside from an estate planning attorney, who often specializes in elder law, you may need the services of a certified public accountant (CPA) and possibly even an insurance specialist.
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Michael S. Winsten

Do I Need to Update My Estate Plan Because of the Build Back Better Act?

President Biden’s Build Back Better Act (BBBA) has made a significant first step towards passage as the House Ways and Means Committee approves the bill’s tax provisions. As the draft now stands, the legislative proposal may restrict the abilities of higher net worth individuals to shelter assets from tax consequences in their estate planning strategies.
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Michael S. Winsten

Will Proposed Tax Law Changes Impact Your Estate Planning?

Some of the more commonwealth transfer strategies for estates may have significant impacts due to tax law change proposals on the precipice of being enacted into law. While it is too early to know what will become law, the House Ways & Means Committee tax plan draft indicates that change is coming soon.
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Michael S. Winsten

Securely Store and Share Financial, Medical, and Legacy Information

Estate planning documents such as your will, living wills, powers of attorney, trusts, medical directives, and financial information should be stored somewhere secure, yet easily accessible for your survivors. Additionally, you need to safely store information about birth certificates, marriage licenses, even divorce decrees, as well as medical records and property titles.
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Michael S. Winsten

Facing the High Cost of Elder Care in America

Aging well and securely in America takes a significant financial toll on millions of elderly and their loved ones. Long-term care facilities and retirement communities cost staggering amounts of money, as do the high costs of premiums to maintain a long-term care insurance policy.
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Michael S. Winsten

Estate Planning During The Great Wealth Transfer

There are always generational differences of opinion as to how best to live and act in the world. Millennials and Generation Xers have distinctly different priorities and politics than their older benefactors in response to climate change, pollution, over-harvesting nature's capital, and wealth accumulation, to name a few.
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Michael S. Winsten

Settling an Estate Without a Will

Surprisingly, despite the COVID-19 pandemic, overall percentages of older Americans without a will have remained the same according to caring.com. In contrast, younger adults with a will show an increase of sixty-three percent comparative to pre-pandemic times.
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Michael S. Winsten

Estate Planning Conversations with Loved Ones

A comprehensive estate plan is vital if you want to ensure the successful transfer of wealth to your loved ones. However, all too often we overlook the crucial part of communicating our estate plan to family and heirs.
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