Estate Planning
4 Reasons Why Avoiding Probate is a Smart Estate Planning Move
Few estate planning subjects are as misunderstood as probate. But circumventing the probate process is usually a good idea. Here’s why.
June 29, 2025
Few estate planning subjects are as misunderstood as probate. But circumventing the probate process is usually a good idea. Here’s why.
As a closely held business owner, a substantial amount of your wealth likely is tied to the business. Of course, you want to retain as much of that wealth as possible to pass on to your family after you exit
For many people, creating an estate plan falls into the category of important but not urgent. As a result, it can get postponed indefinitely. If you find yourself in this situation, understanding the reasons behind this procrastination can help you
Asset protection is a strategic approach to safeguarding your wealth from potential lawsuits and creditor claims. Indeed, protecting your assets is critical in today’s litigious environment. Without proper planning, a single lawsuit or debt issue could jeopardize years of financial
The Tax Cuts and Jobs Act (TCJA) effectively doubled the unified federal gift and estate tax exemption — and annual inflation adjustments have boosted it even further. For individuals who make gifts or die in 2025, the exemption amount is
When it comes to estate planning, married couples often assume that simply naming each other in their wills or designating each other as beneficiaries is sufficient. However, unintended consequences can result if you and your spouse fail to properly coordinate
Legacy Private Trust Company is please to announce the addition of Thomas J. Pranica as Vice President, Senior Trust and Financial Advisor. Thomas brings more than a decade of experience in wealth management, corporate tax law, and public accounting. In
Economists widely agree that easing trade tensions is important for sustaining U.S. economic growth. On May 12, U.S. trade officials announced a temporary reduction in tariffs with China, offering a brief reprieve in ongoing trade negotiations. While this adjustment lowers
It’s not uncommon for an estate plan to contain multiple trusts. They can enable you to hold assets for and transfer them to beneficiaries, avoid probate, and possibly reduce estate tax exposure. When drafting a trust, you must appoint a
We are pleased to welcome two outstanding professionals to the Legacy Private Trust Company team! Kristine L. Groell brings a dynamic background in business development, data analytics, and educational leadership to her role as Corporate Support Services Associate at Legacy
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