What Is Estate Planning? A Simple Guide for 2026
Wondering what estate planning is? You’re not alone—it’s the top question we hear at Davenport & Associates! In simple terms, estate planning is about deciding what happens to your money, home, and responsibilities when you can’t manage them anymore, whether due to illness or passing away. It’s not just for the rich; it’s for anyone… View Article
READ MORE
Common Estate Planning Misconceptions in 2026: Don’t Let Myths Cost Your Family
Common estate planning myths still persist in 2026, with only 33% of Americans having a will or trust, down 6% from 2023. From what we have heard from our clients at Davenport & Associates, these misconceptions can lead to costly mistakes like probate fees averaging $10K or tax losses up to 40%. If you’re thinking… View Article
READ MORE
Why Estate & Retirement Planning Go Hand In Hand
Retirement benefits like IRAs and 401(k)s form a major part of estates, but improper planning can lead to tax losses of 60% or more. With a Birmingham EPC event today, August 7, 2025, highlighting case studies, it’s timely to explore integration. If you’re asking “Are my retirement benefits portable?” or “Is my estate plan updated… View Article
READ MORE
Medicaid Look-Back and Estate Planning: Protecting Your Assets in 2026
Are you worried about protecting your assets from the Medicaid look-back period? Many clients at Davenport & Associates ask this, but the real concern often lies with the Medicaid 5-year look-back, a critical factor in estate planning. In 2026, with long-term care costs averaging $100,000+ annually and 70% of seniors needing care, understanding this rule… View Article
READ MORE
How the Big Beautiful Bill Affects Estate Planning in 2026
The One Big Beautiful Bill, signed into law on July 4, 2025, brings permanent changes to the tax code that could reshape estate planning for families. With the estate tax exemption rising to $15 million per person ($30 million per couple) effective 2026, and new deductions for seniors and families, this legislation offers opportunities but… View Article
READ MORE
Pros and Cons of Revocable vs. Irrevocable Trusts in 2026
In 2026, estate planning has never been more critical, with rising probate costs averaging 3% to 7% of an estate’s value and potentially up to 10% in some cases. As families navigate tax changes, Medicaid rules, and asset protection, trusts remain a cornerstone of effective planning. But which type is right for you: revocable or… View Article
READ MORE