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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A new job is an exciting step in anyone’s life, whether it’s a first after school and summer job at the local water park or a move to become the CEO of a Fortune 500 company. Proper financial and estate planning are important in any stage of life and can help protect the future you’re […]
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A revocable living trust is an estate planning tool that allows individuals to transfer their accounts or property ownership to a trustee. The trustee has a legal obligation to use the property for the benefit of the beneficiaries. The person who creates and funds the revocable living trust may also be called a grantor, settlor, […]
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Wills and trusts are estate planning tools that allow individuals to transfer their money and property to others when they die. It is possible to have both a will and a trust, especially if you have a larger estate. Carrying out your loved one’s final wishes should be a priority for everyone involved. However, in […]
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No one goes into a marriage planning for a divorce. You and your former spouse may have already created an estate plan. If so, it is important to understand how divorce and remarriage affect your plan. Your Current Estate Plan It is critical to understand how your current estate plan will function if you divorce. […]
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Estate planning is a comprehensive plan that can include managing and using your accounts and property during your lifetime as well as their disposition after your death. At its most basic, it is a thorough plan to take care of the future financial needs of your loved ones. A financial power of attorney (POA) is […]
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Would it surprise you to learn that the percentage of people aged fifty-five and older who have created estate planning documents has dropped from 60 percent in 2019 to 44 percent in 2021? That is what Caring.com discovered in their 2021 Wills and Estate Planning Study. So while drafting your Last Will and Testament and […]
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The Biden administration has been exploring the idea of eliminating the step-up in basis rule or at least modifying it. The American Families Plan Fact Sheet says that: “The President would eliminate the loophole that allows the wealthiest Americans to entirely escape tax on their wealth by passing it down to heirs. Today, our tax […]
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An estate plan is a comprehensive plan that expresses your wishes regarding your legal, medical, and financial affairs if you are incapacitated or upon your death. The person or entity you choose as your executor or trustee must be able to step in to make decisions for you. This person must be someone you trust […]
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