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

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

Six Questions to Consider When Selecting Beneficiaries for a Life Insurance Policy

Selecting a beneficiary for your life insurance policy sounds pretty straightforward. You’re just deciding who will receive the policy’s proceeds when you die, right?  But as with most things in life, it’s a bit more complicated than that. It can help to keep in mind that naming someone as your life insurance beneficiary really has READ MORE

Why You Might Actually Owe Taxes in 2018

Like many taxpayers, if you’ve already filed your federal income taxes for 2018, you may be surprised to discover you’re not getting a refund this time.  If so, this was almost certainly due to the sweeping tax overhaul made by the 2017 Tax Cut and Jobs Act (TCJA). Since personal tax rates were lowered by READ MORE