Everyone wants to leave a financial legacy for their family. If you only have a financial plan, then you’re trying to guide a boat with only one oar. A financial plan is only part of the puzzle for your overall…
Most people think of estate planning as a one time project. Its added to their to-do list: “Create estate plan”, “Find estate planning attorney”, or “Meeting with lawyer at 10:00 a.m on Thursday for estate plan”. Its looked as just…
Are unmarried couples living together the new norm? Considering the following information: Per the U.S. Census Bureau, approximately 112 million people in the U.S. are unmarried 45 percent of our country’s households are “unmarried households.” In 2013, the CDC found that…
A common misconception is that estate planning equates to death planning. But planning for what happens after you die is only one piece of the estate planning puzzle. It is just as important to make a plan for what happens…
Comprehensive estate planning is about more than your legacy after death, avoiding probate, and saving on taxes. It must also be about having a plan in place to manage your affairs if you become mentally incapacitated during your life. What…
The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, fees can run into tens of thousands of dollars. The good news: probate costs…
Many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes of conservatorship or…
Leaving your hard-earned assets outright to your children, grandchildren or other beneficiaries after you die will make their inheritance vulnerable to creditors. Instead, consider using discretionary trusts for the benefit of each of your beneficiaries. What is a Discretionary Trust?…
There’s an entire category of commonly-overlooked legacy to consider – digital assets. Don’t worry if you didn’t consider these assets when made your will or trust – it’s surprisingly common and, luckily, easy to correct. What are digital assets? They…
If you’re thinking about giving your children their inheritance early, you’re not alone. A recent Merrill Lynch study suggests that nearly two-thirds of people over the age of 50 would rather pass their assets to the children early than at…