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
Will
Starting the New Year Right
As we begin a new year, it’s a good time to start off right. If you don’t already have an estate plan, now’s a great time to make an appointment with an estate planning attorney to get one. Read on to learn more. … [Read more...] about Starting the New Year Right
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
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?
Aretha Franklin Died Intestate: What Does It Mean for Her Family?
Aretha Franklin died intestate. Intestacy has definite drawbacks. Read on to see what this means for her family, financially and in other ways. Aretha was the Queen of Soul, but her lack of planning caused consequences she did not consider. Aretha Franklin Died Intestate: What Does It Mean for Her … [Read more...] about Aretha Franklin Died Intestate: What Does It Mean for Her Family?
Why Plan?
There are so many things in life that we plan for: vacation, retirement, grocery shopping. . . . So why do we do it? Planning gives us a level of assurance that what will happen is in our control, more or less. We plan a vacation so we can get the most out of it. We can see the sights. We can … [Read more...] about Why Plan?
Summary of Potential Tax Law Changes Under President Elect Trump:
We live in uncertain times. There is no certainty in what President Elect Trump will do when it comes to the tax code, but he has stated that he would like do the following: Eliminate the estate tax entirely. Eliminate the gift tax entirely. Presumably, eliminate the Generation Skipping … [Read more...] about Summary of Potential Tax Law Changes Under President Elect Trump:
When Should you Plan?
Planning is “the act or process of making a plan to achieve or do something,” Merriam-Webster. We plan ahead of time. Planning for something after it occurred does not make sense. A plan is used to mitigate risks and enhance the possibility of success in a set of goals or objectives. When estate … [Read more...] about When Should you Plan?
Selecting your Fiduciary
When putting your estate plan in place, one of the most critical decisions is naming the person or entity that will make your decisions when you can’t. Collectively, this role is a fiduciary. The fiduciary is a person or entity who has a legal obligation to make decisions in your best interest. … [Read more...] about Selecting your Fiduciary
