Planning Today for Tomorrow’s Retirement
For many of us, we look forward to retirement as a time when we'll be able to enjoy a leisurely lifestyle pursuing all the special interests we never had the time (or money) for in our earlier years. One of…
The Role of Trustees
It is likely that you have questions regarding how you want your assets distributed and who should have that responsibility, regardless of where you are in the estate planning process. A trust can be a great tool in your estate…
Revise Your Estate Plan After Divorce
An emotional divorce can lead to financial turmoil (especially if children are involved). Rarely is the division of assets an amicable process. While your estate plan may be the furthest thing from your mind during a divorce, without updating your documents,…
Estate Planning and Tax Reform
Adapting to ever-changing federal estate tax laws, gifts, and GST exemptions may require an annual review and amendment of your estate plan. Since 2018, federal tax assessment on estates above $11.7 million, indexed for inflation every year, will default back to…
Do Not Write Your Will Yourself
When wills are drafted, they will address who receives your assets and properties after your death only if they are properly filled out. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution,…
Planning for the Digital Era: 4 Obstacles to Avoid
The Internet of Things (IoT) has become a part of our daily lives, making it more imperative than ever to identify and manage the digital property you own. We've progressed well beyond emailing family or connecting with friends over social…
Aspects of Non-Traditional Family Structures and Estate Planning
The practice of estate planning is evolving due to changing family structures. Until thirty years ago, a traditional family consisted of a husband and wife who would marry young, buy a home, have children, and strive toward financial stability and…
Types of Trusts
Most of us have heard of trusts from the perspective of a beneficiary of one. Some may believe that only wealthy people use them, but they are common and useful tools when creating estate plans of all sizes. Managing and…
The Provision of Income by Charitable Trusts to Heirs
The charitable trust is a kind of irrevocable trust that benefits both you and the beneficiary while also providing income for your heirs. The establishment of a charitable trust is a great way to provide many financial benefits to all…
What Probate Is With or Without a Will
People commonly know that probate occurs in probate court after someone passes away, and that it is something that happens after someone dies. Many people are not aware that the process is long and complicated. In some cases, it can…