When Is the Best Time to Plan Your Estate?
Most people start thinking about planning their estates when they reach retirement age. After all, the “normal” progression of life is to graduate school, get a job, get married, have children, help your children graduate school, retire, become grandparents, and enjoy life. Then, after a long and fulfilling life, you will eventually pass on. But […]
Estate Planning Checklist Before You Travel
Does your estate plan (or lack thereof) come to mind every time you board a plane or embark on a long drive? When we travel, many of us are reminded of our own mortality and the remote but real possibility that we might not return due to death or illness. Before any trip, most of […]
How to Disinherit a Family Member
When planning your estate, you have the right to distribute your assets any way you choose. There is a myriad of reasons why a person might decide to disinherit a would-be beneficiary. The method of disinheriting someone depends on the person’s relationship to you. Disinheriting Your Spouse Unless your spouse agrees in writing, it is […]
Understanding Corporate Trustees
Seven Reasons to Have a Professional Help You Build, Manage, and Protect Your Wealth With people living longer and healthcare costs continuing to rise, our savings must grow larger and last longer. Deciding where to put your money in an uncertain market with so many investment options from which to choose can be very confusing, […]
Don’t Let Creditors Inherit from You or Your Spouse
Although spouses receive special treatment when inheriting a retirement account such as an IRA (the ability to roll over the account into a personal retirement account and to stretch the distributions over their lifetime), the retirement account you leave for your spouse can still be seized in a divorce, a lawsuit, or a bankruptcy proceeding. […]
Young Adults Need Estate Planning, Too
Most young adults think they are invincible. But the reality is that anyone can become seriously ill or be injured in an accident or a random act of violence at any time. Far too many of us know the tragedy of a promising young life that was abruptly cut short. Once a child turns eighteen, […]
What Does Funding My Living Trust Mean and How Do I Do That?
Funding your trust is the process of transferring ownership of your assets from you to your trust. To do this, you physically change the titles from your individual name (or joint names) to the name of your trust. You will also change most beneficiary designations to your trust so those proceeds will flow into your […]
Estate Planning with Dementia on the Rise
Dementia is a chronic or persistent syndrome caused by brain disease or injury and marked by deterioration of memory, personality changes, and impaired cognitive function. As the baby boomer generation continues to age, the number of people who are affected by dementia increases. Perhaps more alarming is that individuals in their fifties are more commonly […]
Understanding the Significance of Trusts
This article addresses a topic that is important to many Americans yet is sometimes misunderstood—trusts. In the right circumstances and with proper drafting, trusts can provide significant advantages to those who utilize them. Admittedly this is a complex area of law, but this article reviews the basic principles and types of trusts and explains the […]
How To Protect Your Retirement Accounts
Most people are shocked to learn that after they pass, creditors can seize the retirement accounts intended for their loved ones. During your lifetime, your retirement funds have fairly comprehensive asset protection, meaning they cannot be taken in a lawsuit. Unfortunately, as soon as retirement accounts are inherited, the protection evaporates in most states. This […]
