Around the Web: Revocable or Irrevocable Beneficiary – Which is right for you?
While planning your estate, it is important to know the two types of beneficiaries and their differences. This helpful article helps illustrate their major differences as well as their pros and cons. Revocable beneficiaries can be changed without the beneficiary’s knowledge or consent at any time. The owner of the account has full control over […]
What Are the Best Estate Tax Planning Strategies?
Who will carry on your legacy? It’s a question that resonates deeply for those with assets and loved ones to protect. In the world of estate tax planning strategies, knowledge is more than just power; it’s a legacy safeguard. Whether you’re navigating the intricacies of wills and trusts or considering the impact of a second marriage […]
What are the Different Types of Trusts?
Did you know that 67% of Americans don’t have trusts or estate plans? This means your assets and loved ones are left unprotected after you pass away. To help make sure this doesn’t happen to you or your family, we’ve rounded up everything you need to know about estate planning, durable power of attorney, and more. […]
7 Tips for Protecting Your Children When Getting Remarried
Divorce can be tough for children to cope with. They’re suddenly having to shuttle back and forth between both parents, splitting their time and energy in new ways. What happens when a stepparent is introduced into the equation? An estimated 50% of US children aged 13 or younger live with one biological parent and that parent’s new […]
Trusts vs. Estates: What’s the Difference?
Having your last wishes in place is an important part of the wealth-building journey. The motivation for many is to have a legacy that they can pass down to future generations. With this in mind, many people are simply unprepared. Approximately 64% of people today have not drafted a will. If you’re among those who either have […]
Around the Web: Legal, Financial Preparation is Key for Patients with Dementia, Alzheimer’s
Medical and legal experts recommend patients with declining mental or physical health examine their end-of-life arrangements to ensure it is up to date and your wishes will be carried out. This National Institute of Aging article shines light on the different documents you may need, as well as the next steps to consider while getting […]
How to Avoid Probate: 7 Strategies That Work
Did you know that probate, despite its noble intent of orderly asset distribution, can potentially erode 5% or more of your estate’s value? Not an ideal parting gift for your loved ones, is it? It doesn’t have to be this way, though. The daunting prospect of probate can be circumvented. Yes, you heard it right! We […]
Common Property Title Issues and How a Lawyer Can Help
You may not have been aware of this, but sixty-six percent of Americans have no estate plan in place. This is a glaring problem, as many people feel that estate planning is an important thing to do. When you hire an estate planning lawyer, one of the first things they may suggest is to perform a title search […]
Around the Web: All About Spousal Lifetime Access Trusts
While it can be an uncomfortable process, planning ahead and creating your estate plan now can save you and your family money down the road. It also can help mitigate added stress on your family while they grieve your loss. This Tennessean article discusses a few ideas to consider while creating your plan, one […]
7 Major Benefits of Hiring an Estate Planning Attorney
67% of Americans do not have an estate plan in place, which can cause many problems for the loved ones they leave behind. After a loved one has passed, plenty of complications fall behind to the grieving family. From planning out the final resting arrangements to figuring out how to divide the assets that have been left […]