Earlier this year, Phillip Seymour Hoffman made headlines when he unexpectedly passed away from drug-related issues. His death also generated some raised eyebrows in financial circles because his estate plan turned out to be very costly for his heirs, both financially and emotionally.

Perhaps the biggest risk to a well-organized estate plan is the ignorance that arises from poor communication and the lack of a basic understanding of how estates are administered.

If you are at least 70½ years old and want to support a favorite charity, using your IRA as a source of liquidity can be attractive.

For the first time since 2001, Congress has provided some degree of certainty about the federal estate and gift tax.

As we wrote in the Autumn 2012 news-letter, we strive to keep things simple for our clients. Some complications can be avoided and some cannot. Just knowing that these conditions exist can help your estate planning go more smoothly.

“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” – Steve Jobs

Foley & Foley is celebrating its silver anniversary in 2012. “When you have been in business for 25 years in Alaska, you start to feel like an institution,” said Richard H. Foley, one of the firm’s founders.

The holidays are just around the corner, and many of us are starting to think about ways to give back to our community or favorite charities. There may be a way you can give back while taking advantage of tax and investment requirements.

A living trust is like a power of attorney on steroids. The trust agreement will transfer control of your financial affairs to your successor trustees in a more efficient manner than a durable power of attorney, and it will give your trustee greater control to manage assets. A living trust is a superior disability planning … The Living Trust: A Super Power of Attorney

Generosity is an important—yet often unrecognized—reason to plan your estate.