Have you considered what will happen to your automobile after your death? In 2019, it is projected that there will be 281.3 million registered vehicles in the United States,. (Texas, with an estimated 24 million, has almost 9%! California is estimated to have about 50% more). Your automobile is a valuable asset — as well as […]
Why would anyone want to refuse an inheritance? Although it is surprising to many, there are several circumstances when declining an inheritance can be beneficial. The law does permit you to refuse an inheritance if you comply with certain strict requirements. The legal term for a refusal of an inheritance is a “disclaimer,” which is defined […]
You may not know exactly what asset protection is, but you likely have already engaged in it at some point during your life. In fact, you probably currently have one or more types of traditional asset protection planning in place. The problem is the type of planning you have right now may not be enough to […]
Estate planning offers many ways to leave your inheritance to your children, but it’s just as important to know what not to do. Here are some common estate planning mistakes that you should avoid. “Oral Wills” If you feel you have a good rapport with your family or don’t have many assets, you might be tempted […]
Farming or ranching can be more than a means of livelihood; it is often also about preserving a legacy and unique way of life. Unfortunately, many farmers and ranchers fail to make an estate plan. The farm or ranch that has been passed down for generations then ends up being sold and converted into non-agricultural use, […]
For each season, there is planning that you must do on the farm. In order to be successful, this planning must be done thoughtfully and in advance. Your life is no different. To properly plan for the next season in your life and the lives of your family, a well-executed estate plan is a must. Below […]
Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must also […]
Few enjoy planning their own funeral, but making those arrangements in advance for yourself may be one of the most thoughtful acts you can do for your loved ones. More and more people are including funeral planning as part of their estate plan, sparing their grieving families from having to make hasty arrangements during an already […]
