A trust is a relationship in which one person's assets are held inside for the intention of passing on to specific beneficiaries. One of the primary reasons that people choose to use a trust is because the assets no longer belong to a grantor after they have been transferred into the trust. You can also[...]
Far too many people across the United States assume that estate planning is only for the old or the wealthy. Unfortunately, however, that is not true and it becomes increasingly important in an age in which many people are realizing the negative impacts of potential disability or life-changing accident. Estate planning does not have to[...]
Most people who are relatively young, do not have a great deal of wealth or do not have children may be under the impression that they can avoid the estate planning process in total. This could end up being a big mistake, however, if something were to happen to you. Don't take the short-term view[...]
Planning ahead for the future is just as much about making sure that you follow through on all of the plans and strategies you have articulated with your attorney as it is having the mindset to get them accomplished in the first place. Trying to manage this on your own could become overwhelming, but[...]
Many individuals in America are notoriously interested in avoiding talking about estate planning. A new study revealed that in 2015, while up to 70% of Americans have said they considered writing a will, just over 30% will actually follow through on that process. A further 95% of individuals in the United States admitted that[...]
An inter-generational transfer of wealth can be extremely complicated and it can be risky for everyone involved. Without proper planning, passing on a large amount of wealth could generate tax and other financial consequences for those receiving the benefits and those passing them on. It is expected that in the next forty years, nearly[...]
Estate planning is even more important when you are a single parent because you have primary concerns about your minor children. The general estate planning concerns for minor children of a single parent is similar to the estate planning process for those families that have two parents. There are several critical questions that you[...]
Appropriate estate planning is important for anyone regardless of the size of your estate. However, as you get older your priorities will shift and your situation may change, meaning that estate planning could become an even more important consideration. At a bare minimum, if you own property you need to be aware of planning for[...]
It can be a tricky question to determine whether or not it is appropriate to let your loved ones know what is inside your estate plan. A surprise after you pass away could be unpleasant for everyone involved, but it’s a balancing act to determine the right amount of information that should be passed[...]
Whether you’ve watched the story unfold in the national media after a celebrity passes away with an unclear estate plan or no plan at all or whether you’ve witnessed a friend or family member go through the same process, there’s a good chance that you’ve seen drama unfold without the proper planning procedures. There[...]