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 […]
Saving for School: Planning for Your Family’s Education
According to the National Center for Education Statistics, in the 2018–2019 academic year, the average tuition and fees for a public four-year institution were $9,200; $35,800 for a private nonprofit four-year institution; $3,700 for a public two-year institution; and $18,400 for a private nonprofit two-year institution. If post-secondary education is in your family’s future, […]
Can a Non-U.S. Citizen Create an Estate Plan in the U.S.?
The United States has experienced a surge in immigration since 1970, and there are now approximately 45 million foreign-born people living in the United States. Some of them have become U.S. citizens, but many non-citizens live in the United States as well. In 2019 alone, approximately 1,031,000 foreign nationals obtained lawful permanent resident status.[1] It is […]
COVID-19: A Reminder of Why Estate Planning Is Important
Many people love to spend part of their summer vacation at the beach, enjoying the ocean and sunshine. But there may be unseen dangers that are crucial for beachgoers to keep in mind: For example, the undertow is a current of water, often quite powerful, below the surface, that is moving away from shore when […]