AROUND THE WEB: Avoid creating family friction with your estate plan
Losing a parent is often one of the most difficult times a family can face. Many times, it can result in friction between siblings. There are simple ways to help avoid this, however, such as deciding early how property should be sold or maintained. This article elaborates on specific steps you can take now to […]
What Is Probate, and Why Do You Want To Avoid It?
When you pass away, your family could have to visit a probate court to claim the inheritance you left behind. If you own property like a house, car, bank account, investment account or any other possessions you wish to pass on after your death, your inheritors could be in store for a long probate court […]
What is a living trust and how does it work? Protect your assets.
A trust is a legal way to set aside your hard earned assets for a specific and desired purpose. A living trust is a type of trust that can be initiated while you are still alive, offering flexibility and control over your estates in the event of incapacitation or death. How a living trust is […]
How to Change a Will or Trust and Why You Should
For reasons that are not entirely clear, the number of Americans making wills is dropping. Less than a third of Americans currently have a valid will, according to statistics. Even those that have a will may not have their affairs set in order. There are certain circumstances under which it is necessary to change your will, or […]
Around the Web: Personal Information May Still be a Risk After Data Breach
If you think you are safe from data breaches and identity theft because you froze your Equifax credit account, you may be sorely mistaken. Due to a security flaw, identity thieves may be able to easily hijack your phone and utility accounts. According to this article, the National Consumer Telecom and Utilities Exchange, an association […]
Planning Charitably: 5 Strategies That Will Save You Money on Taxes
It is recommended that small businesses should donate 6% of their profits and sales to charitable causes. Donating profits can help you and your employees feel like you are making a difference and can even draw in more business. If you want to put your money to good use, you have a couple of options to consider. […]
Around the Web: How the SECURE Act Affects Your Estate Plan
It is important to review your estate plans regularly to adjust for any changes that occur, whether they are legal or personal. This year, that is especially true. The Setting Every Community Up for Retirement Act, or SECURE Act, has made substantial alterations to how certain retirement benefits and IRAs should be treated after death. […]
Common Second Marriage Inheritance Issues You May Not Know About
In the United States, 60% of couples in a second or subsequent marriage have at least one child from a prior relationship. In 2008 one-third of people divorcing were actually re-divorcing (divorcing again). In blended families, it is important to make sure the children from your first marriage are not unintentionally disinherited. To make sure your intentions […]
How To Talk With Your Parents About Long-Term Care
The number of senior citizens in the United States is expected to jump from 45 million in 2010 to 86 million in 2050 thanks to advances in medicine and technology. The growing number of elders means a growing number of uncomfortable conversations with parents and grandparents. One of the topics that should be discussed is aging and […]
New Year, Old Assets: Updating a Living Trust for the New Year
End of life estate planning can be a difficult thing to confront. But that doesn’t mean it’s not important. Most Americans understand how helpful having a living trust is. In fact, 76% of Americans think it’s important to have one. Unfortunately, only 40% of those people actually do have a living trust. And even fewer […]