Life insurance is a policy you buy to protect your loved one’s financial interests. No one likes to consider a reality in which they are not in their loved one’s life, but life is uncertain, and it could happen. To make the uncertain more palatable, many people purchase life insurance. Whether you have debts, you […]
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Estate planning documents are carefully considered plans. For this reason, it is important to balance the desire for flexibility with the concern that changes may be made without considering the potential implications of those changes. When a trustmaker dies, their revocable living trust becomes irrevocable. Other trusts are irrevocable from inception. But, what happens if […]
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First responders across the U.S. have worked tirelessly throughout the COVID-19 pandemic to protect and treat the ill and injured at substantial risk to themselves. No one wanted to learn about SARS-CoV-2, the virus that causes COVID-19, in the middle of a pandemic. A lack of knowledge on how the virus will behave and how […]
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If the passing of heirlooms from one generation to the next is not handled with care it can lead to long-lasting family disagreements. It is clearly not your intention that your children not speak because one received a valued, though maybe not valuable, picture of their grandfather while the other received a set of silver […]
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Common law marriage, a marriage in which a couple lives together for a period of time before declaring themselves to be married, has existed in some form or another in the United States since the late 1800s. A common law marriage does not require taking part in a judicial or religious ceremony. As society evolves, […]
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Family limited partnerships (FLPs) are an estate planning tool that reduces estate, gift, and income tax liabilities by allowing families to transfer a significant amount of their wealth to the next generation. Unfortunately, this popular and effective estate planning tool is being challenged by the current administration in Washington, D.C. Understanding Family Limited Partnerships An […]
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Do you need life insurance? A valid question that not too many of us thoughtfully consider. Many employers offer the option to enroll in group life insurance when starting a new job. The process seems pretty straightforward—visit human resources, complete the forms and name a beneficiary. Unfortunately, most people don’t think about life insurance again […]
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Marco and Lisa Smith are consulting with their attorney to draft their Last Will and Testament and discuss the possibility of establishing a trust. They have two adult children, both in their late thirties. Their son is married with two children, and their daughter lives at home and works at a childcare center. She was […]
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You might think that only the wealthy need comprehensive estate and financial plans, but that is not true. Anyone who has a person or cause that they care about and want to provide for upon their death can benefit from estate planning. Your financial and estate planning team can help you not only develop your […]
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Estate planning can be confusing. There are very specific terms that sound alike but have different meanings. The concept of trusts is one of the more perplexing aspects of estate planning. Each type of trust is a tool that has a specific function. Learn more to determine which ones are best suited to your situation. […]
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