Although joint tenancy offers some short-term conveniences, in the long run it poses a host of problems that can cost you and your loved ones multiple times the expense and headaches that you thought you were avoiding. For the vast majority of American couples, “till death do us part” also means, … [Read more...] about Problems with Joint Tenancy
Estate Planning
What is a Power of Attorney?
A Power of Attorney is a document in which the “Principal” gives powers, duties, and responsibilities to the “Agent” who acts for the Principal under certain circumstances. The Power may be over health matters (a Health Care Durable Power of Attorney – also known as a Health Care Proxy or Advance … [Read more...] about What is a Power of Attorney?
Estate Planning 101 Wills vs Trusts
ESTATE PLANNING 101 – WILLS vs TRUSTS Your estate plan should accomplish some extremely important things, including protecting you, your assets, and your loved ones both now and in the future. Given everything your plan can, and should, do for you and your loved ones, you may not know where to … [Read more...] about Estate Planning 101 Wills vs Trusts
When Is a Good Time to Begin Planning for Your Future?
Generally speaking, it’s a good time to plan your estate when you own property, stocks, or other valuable collector’s items. Whether young or old, if you have something of worth that you would like to pass on to a beneficiary, estate planning ensures your belongings go to the intended recipient. But … [Read more...] about When Is a Good Time to Begin Planning for Your Future?
Pet Trusts: An Often Overlooked Part of Your Estate Plan
Why a Pet Trust? Pet trusts are becoming more and more utilized in today’s world. As the birth rate goes down, the ownership of little dogs, weighing less than 20 pounds, has substantially increased. We are seeing this trend across the country, beginning around 1999. If you are the owner of a pet … [Read more...] about Pet Trusts: An Often Overlooked Part of Your Estate Plan
Premier Estate Planning: Protect Your Assets From Creditors
There is a common misconception that you can find a one-size-fits-all estate plan and that after you’ve done that, you’re finished. The truth is that estate planning is ever-evolving. Your life changes and your needs with it. The law is constantly changing which has a significant impact on your … [Read more...] about Premier Estate Planning: Protect Your Assets From Creditors
How Does a Will or Trust Work?
Regardless of your age, if you have dependents, you should look into creating a will, a trust or both. Putting those measures in place can help ensure your loved ones are not burdened with sorting out your financial affairs in the event of your death. Additionally, it can help offer stability for … [Read more...] about How Does a Will or Trust Work?
Stepped-up Cost Basis Going Away?
Historically in a presidential election year, tax topics are widely discussed and debated between opposing candidates. This year is no different. The candidates have varying views when it comes to the tax planning strategy of stepped-up basis. The elimination of stepped-up basis would result in a … [Read more...] about Stepped-up Cost Basis Going Away?
Election Results Still Unknown – Estate Planning Scenarios for Each Candidate
The election happened November 3rd! There are millions of ballots cast, but the outcome is yet to be determined. With any election, but more so with this one, many Americans are wondering how they will be affected. There are significant differences with each party’s platform including … [Read more...] about Election Results Still Unknown – Estate Planning Scenarios for Each Candidate
Estate Planning after the Presidential Election
I often meet with families because of an important life changing event (marriage, death, birth, special needs, etc.). These common events provoke families to start thinking about their demise and how to best leave their legacy to their loved ones. Another event that typically triggers families to … [Read more...] about Estate Planning after the Presidential Election
