Good financial and estate planning can help you care for your family after you pass away or become incapacitated. A skilled estate planning lawyer helps you learn what kinds of legal protections you need to ensure that most of your assets go where you want them to and not to the government...
Category: Estate Planning
Managing an Estranged Child in Your Estate Plan: Tips and Suggestions
Families are far from perfect. Some children have closer relationships with their parents than their siblings. This is normal and healthy based on each child’s needs.
But in some situations, a parent may have no relationship with a child. Estrangements like this happen for many reasons ranging from personal...
When to Consider a Charitable Lead Annuity Trust for Estate Planning
A charitable lead annuity trust provides high-net-worth individuals with a structure for donating to charity and giving a gift to another person or entity. Importantly, the gift recipient does not need to be a charitable organization. Thus, you can donate to your favorite hospital foundation and leave a gift to your nephew...
Estate Planning for Blended Families: A Complete Guide
Estate planning is critical to ensure that your assets and property are distributed according to your wishes after you pass away or become incapacitated. But those with blended families often experience unique estate planning challenges.
This is especially true when a blended family includes children, stepchildren, or grandchildren....
The Right Way (and Wrong Way) to Cancel Your Timeshare
As the new year approaches, you and others are getting into the mindset of “out with the old, in with the new.” You might be actively looking for ways to discard from your life the things that no longer serve your purposes, such as a timeshare.
What once may...
5 Reasons Why You Should Review and Update Your Estate Plan
When it comes to estate planning, consistency is the key to success. That means you should review and update your estate plan in accordance with certain changes in your life. But how will you know when those changes occur? To help you figure out what frequency works best for you, here are...
Taxable Estate: What is (and Isn’t) Included?
While considering the financial impact of your death may seem morbid, having an estate plan in place can protect your heirs from headaches down the road and ensure that your assets are distributed according to your wishes. It is crucial to understand the various types of assets included in your estate plan...
Why Does My Trust Need to Be Funded?
A trust is a legal structure that many people use for asset protection and estate planning. A trust splits legal and equitable ownership of the trust assets, which protects the assets from creditors during your lifetime. It also ensures that the assets get distributed according to your wishes after you die.
The Relationship Between Estate Planning and Financial Planning
Many are not clear about the differences between financial planning and estate planning. Both are important but serve separate and distinct purposes. To manage your money now and to protect your wealth in the future, understanding how financial planning and estate planning work together is vital.
Financial Planning
Financial planning is the process of examining...
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8 Signs Your Estate Plan Needs an Update
If you have taken time in the past to create an estate plan, or you’re considering doing so now, that’s good news.
Having an estate plan ensures that the wealth you’ve worked hard to create is protected. It makes sense that your assets should be distributed as you wish. After all, they belong to...
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