If you are getting remarried as a parent with children from a previous marriage, you may have two considerations. If you leave your spouse all or most of your resources, there would be no guarantees with regard to the inheritances that you want to leave to your children. Your surviving spouse could decide that they … [Read More]
How to Cope With the Death of a Loved One
Death is an inevitable part of life, and it is something that we all must face at some point. Coping with the death of a loved one can be one of the most difficult experiences that anyone can go through. It is a time when emotions are high, and it can be hard to know … [Read More]
These Tips Can Jumpstart Your Estate Plan
Some people drag their feet when it comes to estate planning because they don’t have enough basic information. With this in mind, we will provide a few tips in this post to give you some foundational knowledge to draw from going forward. Don’t fret about taxation unless you are a multimillionaire. You may assume that … [Read More]
2023 Caring.com Survey Reveals Widespread Estate Planning Unpreparedness
Caring.com conducts annual surveys to get a feel for the percentages of American adults that have estate plans in place. They release the results during the early portion of the year, and they have recently shared their 2023 findings. We will take a look at some of the important takeaways in this post. Overall Preparedness … [Read More]
These Advantages Add to the Appeal of Living Trusts
There are two significant benefits that living trusts provide that get a lot of attention. One of them is the fact that you can include spendthrift protections for a beneficiary that is not ready to handle a significant inheritance. The trust would become irrevocable after your death, and the beneficiary would not be able to … [Read More]
Generation Y Members Need Estate Plans
The millennials, or “Generation Y,” are now between 25 and 40 years of age. According to a survey that was conducted by Caring.com, less than 30 percent of Americans in this age group have estate plans in place. Obviously, people do not usually pass away when they are in their 20s, 30s, or 40s, but … [Read More]
Secrets and Intrigue: A Look at Five Unusual Trusts
A lot of people do not understand the fact that there are many different types of trusts that can be used when you are planning your estate. The primary reason why you should work with an estate planning attorney is to become apprised of your options so you can make informed decisions. With this in … [Read More]
Your Estate Plan Should Be Updated Along the Way
A lot of people procrastinate before they put estate plans in place. Going forward, many do not take action to make revisions as things change because a new cycle of procrastination takes hold. This phenomenon applies to known circumstances, and there are people that have outdated estate plans because they are not aware of changes … [Read More]
Are Living Trust Distributions Taxable?
People often have questions about how taxes can impact inheritances, and we are going to look at taxation on living trusts in this post. But first, we will provide a general overview that will help you understand some of the benefits that these trusts provide. Simple, Efficient Estate Administration One of the most commonly held … [Read More]
Three Estate Plan Components You May Have Missed
People often think of estate planning as the act of drawing up a will or a trust to state your final wishes. This is definitely at the core of the process, but there are some details that can be overlooked. We will look at three of them in this post. Advance Directives for Health Care … [Read More]
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