A critical question to ask yourself when creating an estate plan is who will get your stuff when you pass on? People often think of an estate in relation to the larger assets (such as homes, retirement accounts, savings), and personal property (i.e. jewelry, clothing, sports equipment, vehicles, and other possessions are often overlooked). The truth […]
If a loved one has recently died or become mentally incapacitated, finding the person’s Will and other estate planning documents is essential. These documents are critical to making decisions on the loved one’s behalf, gaining access to accounts, and discovering your deceased loved one’s wishes regarding how to distribute the individual’s money and property. Properly prepared […]
Owning real estate continues to be a very popular investment for individuals and couples alike. One attractive feature that investment property can also double as a personal residence. In other cases, real estate investments may be rental, recreational, commercial, or farm properties. Whatever the case, it is important to understand that real estate can be owned […]
With our society becoming increasingly mobile and international travel becoming more affordable than ever before, families and family-like relationships have steadily grown far more diverse in terms of citizenship. It is no longer uncommon for spouses from different countries to retain citizenship in their homelands. Many couples split their time between the United States and another […]
When you create a living trust, you must name a successor trustee to take over for you if you are unable to act due to incapacity or death. It is crucial that this decision be given careful consideration and that the right person be selected for the job. Role of Successor Trustee If you become unable […]
When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. This individual ideally should be someone you trust implicitly; someone who is organized, responsible, transparent, and meticulous; […]
When you establish a trust, you need to choose a trustee. A trustee does what you do right now with your financial affairs. Some of their duties include collecting income, paying bills and taxes, saving and investing for the future, buying and selling property, providing for your loved ones, keeping accurate records, and generally keeping things […]
If you want to provide for a loved one who is disabled or has special needs when you are no longer here, care must be taken to ensure that the inheritance you leave will help rather than harm your loved one. An inheritance received outright could negatively impact your loved one if he or she is […]
