Planning that’s focused solely on who gets what when you die is ignoring the fact that death isn’t the only thing you must prepare for. You must also consider that at some point before your eventual death, you could be incapacitated by accident or illness. READ MORE
5 Estate Planning Must-Dos if You’re Getting Divorced—Part 2
Because getting divorced can be overwhelming on so many different levels, updating your estate plan often takes a back seat to other seemingly more-pressing priorities. But failing to update your plan for divorce can have potentially tragic consequences, some of which you may have never even considered before. READ MORE
5 Estate Planning Must-Dos if You’re Getting Divorced—Part 1
While getting divorced is a traumatic process involving many tough decisions and legal hassles, it is absolutely critical to review and update your estate plan. READ MORE
The Trust Protection Myth: Your Revocable Trust Protects Against Lawsuits
Many people believe that once they set up a Revocable Living Trust and transfer assets into the trust, those assets are protected from lawsuits. This is absolutely not true. READ MORE
Is Your Estate Plan Unfinished? Don’t Wait to Complete This Important Process
For most people, thinking about one’s own mortality is unpleasant and low on the list of priorities. While you may objectively recognize the need to plan for your future – and the future of your loved ones after you’re gone – it can be hard to summon the motivation to actually create a will or trust. If you’ve made an effort to begin the process but haven’t finalized the details, consider this article the sign you need to finish up. READ MORE
My Trust is Signed, No Probate for My Family, Right?
Planning ahead has obvious benefits. Whether you’re planning a vacation or researching for a job interview, it’s always smart to outline your priorities and anticipate potential challenges that may arise. Planning your estate has similar benefits. With plans clearly established, your wealth and assets are protected should you pass away or become incapacitated. It’s important to be aware, however, that simply meeting with an attorney and signing a Trust does not mean your estate planning process is complete. Without properly funding your Trust, your assets could still be forced through the probate process. READ MORE
Loan, Gift, or Advancement: Why the Classification Matters
While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning. Accordingly, the intent behind the transfer of the money is key when determining if it will be considered a loan, gift, or advancement. READ MORE
When is Probate necessary?
Whether or not you have an estate plan in place, you have likely heard the term “probate.” Probate is the legal process by which a deceased individual’s assets are distributed under court supervision. Said in another way, Probate is a lawsuit against your estate for the benefit of your creditors and beneficiaries. This process is READ MORE
Changes to ABLE Accounts You Should Know
If you have a loved one with disabilities, you may be familiar with “ABLE” accounts, authorized by Congress in 2014 under the Achieving a Better Life Experience Act. ABLE accounts are tax-advantaged savings accounts–similar to 529 education savings plans–whose funds can be used to pay for certain qualifying expenses of disabled individuals. As a result READ MORE
6 Questions to Consider When Selecting Beneficiaries For Your Life Insurance Policy—Part 2
In the first part of this series, I discussed the first three of six questions you should ask yourself when selecting a life insurance beneficiary. Here I cover the final half. Selecting a beneficiary for your life insurance policy sounds pretty straightforward; however, given all of the options available and the potential for unforeseen problems, it can READ MORE