A Spousal Lifetime Access Trust (“SLAT”) is an irrevocable trust created by one spouse (Donor Spouse) for the benefit of the other spouse (Beneficiary Spouse) (and/or other family members, like children and grandchildren).

Charitable Remainder Trusts (CRTs) are an essential estate planning tool for clients who wish to match their philanthropic goals with a fixed income stream, either for themselves or their loved ones (e.g. kids).  They work ideally with low-basis assets such as stock, but can receive any property – cash, real estate, or a retirement account.

It’s hard to believe it’s August. The days seem to blur into each other despite working as usual and despite trying to make things feel as “normal” as possible. I am a planner in my work, and in my life, so it’s been a challenge to be in this environment and to not be able to plan or do things in the usual way.

This summer we have been trying to get you quick bites of information that are very "nutrient dense.” Educating you about simple things you can do that will give you a big, immediate benefit. One of the most important planning tools that is often overlooked is updating beneficiaries with your financial institutions after a major life event. 

Thinking about undertaking a comprehensive estate plan can seem overwhelming, but there is actually a tiny first step you can take that will give you a tremendous return for a little effort. There are two simple documents that if you don’t take care of them now, it will make handling your affairs much more complicated should you become incapacitated. What are they?

This pandemic has turned everyone into an armchair epidemiologist, and an armchair philosopher as well. In fact, a friend recently mentioned a quote to me from an ancient Stoic philosopher: “Every olpe has two handles – one by which it can be carried, and one by which it can’t.”

To lose a loved one is one of the most difficult situations you or a friend may find yourselves in. At Eckert Byrne, our mission is providing education and information of value to actually help people make the right decisions at the most difficult junctures of their life.

Eckert Byrne’s mission was founded on education – educating ourselves and our clients.  We are fortunate to have a diverse client family, and continue to provide a caring space for all. We are looking inward, holding ourselves accountable, and asking how we can do better.

Ah, Probate! That word evokes so much meaning for me. Mostly, it is a source of anxiety and uncertainty for everyone involved in one. We help clients administer their family’s estates through probate, and recently it has been a journey of frustrations, so I thought I would address it now with you. 

So what is National legacy day all about? It's really the day where you're going to pull out your Estate Binder, you're going to take a look at your Flowchart, you're going to take a look at your Asset Summary. And you're going to take a look at all of those Worksheets that are in the back of your Binder and look to see what's there.