THK Blog
Articles of interest written by THK attorneys for clients and friends to help them make the most informed legal decisions
Considering a Self-Directed IRA
An IRA can be a valuable tool in your retirement and estate planning arsenal, but what if you’re not satisfied with its performance? One option is to set up a “self-directed” IRA. Unlike traditional IRAs, which typically offer a limited...
Contributing to a 401(k) Plan: Traditional or Roth?
Most employers’ 401(k) plans give you the option of making contributions on a pre-tax (traditional) or after-tax (Roth) basis. So, how do you decide which is right for you? The answer depends on several factors, including your current and...
Decisions, Decisions: The Importance of Naming a Successor Fiduciary to an Estate Plan
Having a backup plan is never a bad idea. Indeed, the same line of thinking applies to your estate plan. Specifically, it’s important to name a successor fiduciary. This person can step in and take over if your executor or a trustee is no...
Make Sure Your Estate Plan is Up-to-Date by Reviewing These 5 Things
So you’ve established an estate plan with your attorney — made the tough decisions, written a will, and possibly created a trust. In an ideal world, it’d be time to simply “set it and forget it,” but unlike the rotisseries in those famous...
SECURE 2.0 Provides a Boost to Your Retirement and Estate Plans
The SECURE 2.0 Act of 2022 (SECURE 2.0) expands on the changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). Enacted in late 2022, SECURE 2.0 can help you save more for retirement, which, in...
Update Your Will with a Codicil
On the completion of your will, you knew there would come the day when you’d need to make a change. Perhaps you recently welcomed a new grandchild to the family or maybe recently went through a divorce. Whatever the case, after a major...
Providing for Your Children: Should You Use One Trust or Separate Trusts?
One of the most effective ways to provide for your children in your estate plan is to set up trusts for them. Trusts offer many benefits, including, among other things, the flexibility over when and how to make distributions, protection...
What Happens When You Revise a Will by Hand
The laws regarding the execution of a valid will vary from state to state, but typically they require certain formalities. These may include signing the will in the presence of witnesses and a notary public. But what happens if, after...
Influencing Your Heirs: 4 Tips for an Effective Incentive Trust
Estate planning isn’t just about sharing wealth with the younger generation. For many people, it’s equally important to share one’s values and to encourage their children or other heirs to lead responsible, productive and fulfilling...
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