Everyone understands the value of retirement planning, but a lot of people do not see the complete picture. The active retirement years can be full of travel, leisure activities, quality time with your family, and efforts to cross things off your bucket list. This is a great reward for your hard work, but you should … [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]
Can a Homeowner Qualify for Medicaid to Pay for Nursing Home Care?
Wealth preservation is key, because significant expenses late in your life could damage your legacy. Unfortunately, there is an unpleasant truth that you should face head-on when you are planning your estate. Long-Term Care The majority of senior citizens will need help with their activities of daily living eventually, and a significant percentage of them … [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]
Top 5 Reasons for Estate Planning Unpreparedness
Two out of three American adults are unprepared from an estate planning perspective, and this is not confined to younger people. Less than half of individuals that are 55 years of age and older have estate plans in place. Why do they ignore an event that is one of the certainties of life? In this … [Read More]
Planning Considerations for Small Business Owners
When you are the owner of a small business, your long-term planning goals will coincide with those of people that are not self-employed. Many of the same steps should be taken, but business owners have some additional considerations, and we will look at two of them here. Asset Protection It is important to protect the … [Read More]
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