Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust or an inter vivos […]
Sitting down to create or update your estate plan can be overwhelming. Crucial to a successful plan is your ability to address two major questions: First, who will get your stuff when you die; and Second, how do you want those individuals or charities to receive their inheritance? Ways to Give Away Your Money and Property […]
When we hear the phrase “trust fund kid,” words like “entitled,” “privileged,” and “financially irresponsible” might come to mind. But another word we should associate with “trust fund kid” is “protected.” Below we discuss some of the misconceptions of and benefits to being a trust fund kid. What Is a Trust Fund Kid? According to a […]
For many, Memorial Day weekend signals the beginning of summer and enjoying warm-weather activities, including a backyard barbecue with friends and family. Although a cookout may be an informal affair, planning is crucial to its success. This is true for estate planning, too. Just as preparations are necessary for a successful cookout, a little planning goes […]
A will (which should be accompanied by other important documents) is a foundational estate planning document. However, according to Gallup, only 46 percent of US adults have a will. This number has remained consistent in Gallup polls dating back to 1990. If you are among the minority of Americans with this crucial estate planning document, then […]
Losing your spouse is one of the most difficult things you might face in life. Although it is important to take time to grieve, there are also some crucial steps you need to take as soon as possible to address your spouse’s accounts and property and secure your own future. If your spouse’s estate plan, or […]
Celebrities can give us a glimpse into lifestyles beyond our wildest dreams. But celebrities face many of the same estate planning issues that the rest of us do, such as which tax planning strategies to use and how to divvy up assets among loved ones when they die. Jerry Lee Lewis passed away in October 2022, […]
Probate is the legal process for recognizing the validity of a person’s will after their death and appointing the nominated decision maker. This person, also known as an executor or personal representative, administers the deceased person’s estate and ensures that their money and property are transferred to the beneficiaries specified in their will. If someone dies […]
