Do you have enough life insurance or a policy at all? Life insurance is an important part of the estate planning process. You may even want to make use of an irrevocable life insurance trust to give you more protection. In these situations, the right lawyer can make a big difference. You probably are[...]
Did you know that any will can be contested? An heir or beneficiary can bring forward an official legal challenge to contest a will. What is important before putting together your will is to understand the why and the how of all will contents, so that you can prepare a last will and testament that[...]
Now that Donald Trump has officially secured the presidency in the United States, it's important to think about his proposed tax plan and what this would actually translate to for Americans. One of the most important things to understand is that Trump has gone on the record multiple times discussing his desire to eliminate the[...]
Perhaps it comes as no surprise with nearly half of Americans having no estate plan or will at all. But new research indicates that people in the United States are vary of estate planning and retirement planning. Many of these individuals feel in over their head and concerned about what steps to take next. Others[...]
An estate plan can be as simple or as complex as you need it to be but unfortunately it is not something that you should put together without the help of a knowledgeable attorney. This is for several different reasons, but primarily because many people who make these mistakes may leave behind a mess for[...]
Although many wealthy individuals are relatively business and financially savvy, according to a recent survey on CNBC.com, approximately one third of these high net worth families have not even taken the most essential steps for providing for protecting loved ones after death. The CNBC Millionaire Survey concluded that 38% of those individuals with investible assets[...]
Many baby boomers have typical guesses about how long they might live, but this could turn out to be completely wrong. Many early retirees and pre-retirees think of their parents' generation as a reference point, expecting that they will likely live as long as their parents. However, longevity data goes against this and shows that[...]
It can be a major mistake to wing your retirement planning and hope that things will work out for the best. Saving money for your retirement is certainly important but you also need to think about several careful issues as you approach the process of estate and retirement planning. These include: • Thinking about inflation[...]
may seem tempting because it could be a true surprise to give to one of your loved ones if you plan to pass these assets along. However, you might want to think about planning ahead to pass on these distributions instead. While it might remove some of the elements of surprise, a comprehensive estate plan[...]
Although you might believe that you don't have a significant amount of assets, every individual has an estate. Your estate is made up of everything you own, including life insurance personal possessions, savings and checking accounts, investments, real estate, your home, and your furniture. To ensure that your wishes are carried out with the transfer[...]