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Thinking About Collecting…

Thinking About Collecting Social Security? (5 Must-Know Facts)

Social Security is a major source of income for most retirees. On average, about 40% of their monthly income. So, it’s important to understand the rules and plan accordingly. Here are the basics: Choices. There are 3 different time periods i…
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Sitting May Be the New Smoking

You’ve checked all the boxes for a long and healthy life. You don’t smoke. You exercise a few times a week. You watch what you eat. But are you sitting down right now? The average American adult spends between seven and eight hours a day sitting…
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Nebraska's Small Estate Affidavit

While I typically use this space to talk about estate planning, sometimes an estate is small enough that not much planning is needed. In fact, sometimes a probate can be completely avoided. Nebraska Revised Statute §30-24, 125 recites the guidelines…
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The Secret Strategy That Saves You Money in an S-Corporation

If you are setting up a business entity, there are a number of considerations to be weighed.  One of course is taxes.  More specifically – tax savings!  Your business entity should not only protect your personal assets from liability, it should…
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Time to Review Your Estate Plan?

If you’ve completed an estate plan – good for you! You’ve recognized the importance of taking the necessary steps to insure that your assets are transferred correctly to the next generation and/or to a charitable organization. Now, how long ago…
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Car Insurance 101

We don’t sell auto insurance, but we’ve learned a lot about it in 18 years of car accident injury work. Mostly, that there are many misconceptions about coverage, and many injury victims are disappointed. For example:  Let’s say you’re serio…
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Personal Asset Planning for Retirement

Many Boomers are busy these days planning for retirement. Mostly, this involves calculating and manipulating various types of financial assets. In the process, don’t overlook your most valuable personal asset right now, and in retirement – You. A…
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What is a Gun Trust? (Why…

What is a Gun Trust? (Why you might need one)

In rural Nebraska, gun ownership is not a controversial issue. The vast majority of us not only own firearms, but also enjoy some type of recreational activity  involving guns. For this reason, estate planning in this area of the country typi…
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A Common Estate Planning Pitfall: Overlooking the difference between "designated property" and "probate/trust property"

Many people make the mistake of preparing a Will or Trust, signing these documents, and then closing their estate planning file…forever. Big mistake! Here is why. Your property passes to your heirs in only one of two ways: (1) by Designation,…
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Personal Property List: "Feel Good" Estate Planning

Consider preparing a Personal Property List to ensure that you leave certain property to certain people. Nebraska law provides for such a list if referenced in your Will (all Steffens Law Office Wills and Trusts include this reference). Such a d…
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