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 This phenomenon applies to known circumstances, and there are people that have outdated estate plans because they are not aware of changes … [Read More]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]
Do You Maintain Control of Assets in a Trust?
There is an inherent challenge from an estate planning perspective with regard to projections for the future. How can you know how much money you will need for the rest of your life? A lot of people do not consider the possibility of using a trust because they assume that you lose control of the … [Read More]
How Do You Leave an Inheritance to Minor Children?
There are multiple asset transfer methods used in the field of estate planning, and sometimes the same one will be appropriate for everyone in the family. This being stated, there are other situations that call for targeted solutions based on the circumstances. Estate planning for minors would fit into this category. You cannot leave a … [Read More]
Estate Planning Guide: Important Factors to Consider
A lot of people that are unprepared from an estate planning perspective know that it is important. Many of them state that they are frozen with inaction because they simply do not know where to begin. This is understandable, and in this post, we will provide some basic facts to consider when you are thinking … [Read More]
Your Estate Plan Should Be Tailored to Suit Your Needs
A lot of people have misconceptions about estate planning. They think that your choices are limited, and everyone involved will be required to adjust. The idea is that you pass along your assets in a will, and everyone is on their own after they receive their inheritances. Many of these folks assume that trusts are … [Read More]
Four Reasons to Steer Clear of DIY Wills
There are websites that sell generic, boilerplate legal documents, including DIY wills. Their marketing material makes it sound like it is easy for anyone to plan their own estate using DIY tools that can be purchased online. Since so many people put estate planning on the back burner, this can sound like a simple solution, … [Read More]
These Celebrity Estate Planning Mistakes Can Be Instructive
Over the years, celebrities have made estate planning mistakes that have yielded negative consequences. These scenarios can be instructive for others, because you see a practical example of the way things can go awry if you don’t take the right steps in advance. Let’s look at three of these situations that provide valuable insight. Former … [Read More]
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