Most American strive to earn a decent-sized paycheck to support themselves and their families when they go to work. Stay-at-home parents, however, work to provide valuable nonfinancial contributions to their families everyday. They make sure that the home runs smoothly and that their family members have what they need to be successful and happy. If something […]
People who have accumulated a substantial amount of wealth during their lifetime are often reluctant to disclose the full extent of their wealth to their children. Although there may be a number of good reasons for high-net-worth individuals to create a trust with their children as beneficiaries, the phrase “trust fund baby” immediately brings to mind […]
Many people associate spring with cleaning out the old, brushing off the dirt accumulated from the long winter, and starting projects around the house that have been neglected for far too long. Perhaps, however, your home is fine as is and you need a remodeling project for something other than your home. Estate planning is one […]
In the words of George R. R. Martin’s fictional characters from the noble house Stark, “Winter is coming.” Along with this change of seasons comes a change in driving conditions in much of North America—slippery roads, rain, snow, less sunlight during the morning and evening commutes, and a variety of other hazards. Unfortunately, with an increase in […]
In the world of estate planning, you may come across the acronym HEMS from time to time. HEMS stands for “health, education, maintenance, or support” and is frequently included in trust agreements to guide a trustee on the types of distributions they may make to a trust beneficiary. When a trustee is limited to this type […]
Part of protecting your loved ones when you pass away is making sure that you have a proper estate plan in place. Another aspect is making sure that the right amount of money is available to carry out your goals for their futures. Life insurance has helped many people provide for their loved ones in the […]
When two people get married, the property they obtain during their marriage is called marital property. This includes anything from real property like homes and rental properties, stock options, investment accounts, heirlooms, and employment income. A common assumption is that spouses want to share their property once they’re married. This assumption is not always true, however. […]
The phrase “estate planning” conjures certain images. Most people find themselves thinking of who will take care of them when they’re unable to make medical or financial decisions. Or they picture leaving items like grandma’s silver tea service or the family ranch to their children and loved ones. While neither of these are incorrect, they’re also […]
