Category: Estate Planning

A trust is created and funded by a trustor and is managed for the benefit of the beneficiaries by an appointed trustee. A trustee is either a person or an institution tasked with managing a trust. The trust document will, among other key terms of the trust, establish who is to be the trustee. Being...

Your kids may get older, go off to college, and onto the real world, but they will always be your kids no matter what. Some of you may be spending the summer getting your son or daughter ready to move to college in the fall. It is an exciting time and you likely have...

A recent study released by Caring.com reveals that only about one-third of Americans have an estate plan in place. Based on surveys gathered by the senior living referral service, the study concluded that close to two-thirds of people in the U.S. have the vital legal protections that are established in a comprehensive estate plan....

One of the benefits of planning ahead is the ability to anticipate certain consequences and put tools in place to avoid them accordingly. Estate planning, for instance, often involves significant transfers of asset ownership, all of which can have profound tax consequences. Tax liability can take a big chunk of the value away from...

Single parents may know better than most that planning is an essential part of life. Many single parents are, after all, the sole financial provider for their households. Furthermore, single parents are also the sole bearers of caregiving responsibilities or otherwise arranging for caregiving for their children. It is through planning that single parents...

Divorce will change your life in ways few other things will. It can mark a fundamental shift in a person’s family structure. As such, it will come as no surprise that divorce can be a lot to handle and add to an already stretched to-do list. Well, there is one item that should be...

When you think of a will and a trust, you may not even think to compare the two. A will is probably the most well-known estate planning tool and trusts remain unknown. After all, if you have a will in place to direct how you want your assets distributed after you die, why would...

If there are certain assets you want to ensure pass to particular people after you die, estate planning is essential. For instance, most people want to leave their biggest asset, which is often their home, to their children. There are actually a number of ways you can do this and we will discuss some...

Estate planning is important for everyone. While there may be a pervasive misconception that estate planning is only for the old or for the rich, this is dangerously false. Estate planning is important because even if you do not have assets of great financial value, it is likely you have assets rich in sentimental...

Estate planning is important for everyone. This is true regardless of wealth, or lack thereof. Many people operate under the misconception that estate planning is only for those assets that hold substantial financial value and, thus, only those people with assets of substantial value need estate planning. There are a number of big reasons...