You’d like to leave your assets to your children and other beneficiaries after you’re gone, and you’re inclined to choose the simplest and easiest form of distribution. Unfortunately, without some built-in protections, a simple distribution can make your inheritance vulnerable to creditors, predators, ex-partners, or divorcing spouses, as well as a second estate tax upon […]
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If you’re a member of the often-underappreciated “sandwich generation”, you’re taking responsibility for the care of your parents and your children simultaneously. And part of this responsibility includes asking your parents about their estate plan. They will control the final details of their plan, of course, but it’s essential that they have one, and you […]
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As estate planning experts, we often talk to clients about choosing guardians for family members in the event these family members can’t care for themselves. If your child is left without parents, she’ll need a guardian. If your parents can’t manage their care, they may need a guardian. But what about you? What will happen […]
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The first serious approach to estate planning usually takes place when people decide to start a family. And for the average person, this is also about the time when estate planning stalls or enters an indefinite hold. Once they’ve created a plan, people tend to place it on a shelf as they attend to their […]
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Anticipating and receiving an inheritance can be an emotionally complicated undertaking. Losing a loved one can be frightening beforehand and upsetting afterward, and adding monetary gain to the equation can lead to a disorienting mix of feelings. Compounding the challenges of the process, most people don’t adjust easily—or wisely—to sudden changes in their financial status. […]
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In the spring and summer, as children graduate from high school, parents tend to understandably be in a celebratory and emotional state of mind. While focused on all the joy in the years to come, parents often overlook the fact that their child is now an adult in the eyes of the law and that […]
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About 77% percent of Americans go online every day, leaving an accumulating trail of “digital assets” that might include photos, videos, emails, financial records, and other permanently recorded bits and pieces that tell the story of our days, weeks, and years. The internet makes this process easy and convenient. There is also the risk of […]
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Congratulations! You just bought a new home! Homeownership is a major life event and one of the biggest financial decisions most of us will ever make, and at this stage, the toughest obstacles on this journey are now behind you. You’re ready to start putting down roots and making your new house into a home. […]
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If it’s handled and managed properly, an inheritance can be a blessing. But if not, this windfall of new assets can easily become a curse, and can actually lead to a surprising avalanche of financial problems. Too often, unprepared recipients of an inheritance mismanage and squander their assets very quickly, often due to creditor issues, […]
Read MoreTrusts can be an essential tool for estate planning purposes, and a trust can take any one of several different forms. The form you choose will vary based on the intentions and goals you have for your estate plan. The inheritor’s trust, for example, can be used to protect an inheritance if you’re expecting to […]
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