A living trust is a versatile and highly effective estate planning tool that can be a better choice than a last will as the centerpiece of your estate plan. Unfortunately, many people that could benefit from the utilization of a trust do not consider this option. One of the reasons why you may ignore the possibility of trust creation is because you fear a loss of control. Yes, it would be nice to set aside resources that you would like to leave to your loved ones, but you do not know what … [Read more...] about Can You Change a Living Trust?
Many of us are surprised that our assets may not go to those named in our Will. However, if you have assets controlled by beneficiary designations or other non-probate transfers, that’s the case. Read on to learn how a Will might not control all your assets. Read on to learn more. … [Read more...] about Beneficiary Designations and Other Non-Probate Transfers
Many people assume that estate planning is a purely financial endeavor. You state your wishes with regard to how you want your assets to be transferred through the terms of a will or trust, and that’s the end of the story. This is actually an incomplete understanding. Yes, the facilitation of asset transfers will be at the core of the process, but you should also address eventualities that you may face at the end of your life. Admittedly, no one is especially anxious to consider these … [Read more...] about Don’t Overlook Advance Directives for Health Care
Everyone is aware of the need for retirement planning, and you can enjoy your golden years to the fullest if you take the right steps to build a sufficient financial underpinning. You can spend quality time with your family and friends, travel, enjoy leisure activities, and simply cross things off your bucket list. This can be one of the best periods of your life, but you should also consider the twilight years that will follow. When you reach the age of 67, your life expectancy is at … [Read more...] about Nursing Home Costs Can Erase Your Legacy
The SECURE Act passed in late December. The SECURE Act changes some lifetime rules, but the biggest change concerns rules for beneficiaries. Read on to learn more. … [Read more...] about The SECURE Act and What It Means for You
You should consider the finer details when you are engaged in the process of estate planning, but unfortunately, some of them are often overlooked. In this post, we will look a little bit beneath the surface to provide some insight. Life Insurance Life insurance is going to be a part of most estate plans. It can serve as a safety net that will provide income replacement for your loved ones if you were to pass away before your time. It is important to evaluate your family’s financial … [Read more...] about Estate Planning: Attend to the Details
Many people have misconceptions about the way things transpire after someone passes away. For example, you may conjure images of scenes that you have seen in movies and on television shows. There is a funeral, and the attendees gather at the home of a family member after it is over. Certain people are called into a room where a meeting is convened, and there is then a “reading of the will.” The idea is that the executor that reads the will has the power to distribute the assets independently … [Read more...] about Consider Estate Administration Realities
More and more, Americans are choosing to be cared for and are dying in their own homes. If you wish to be cared for and die in your own home, it’s especially important to have a plan in place to facilitate that choice. Read on to learn more. How Will You Age in Place and Be Able to Die at Home? … [Read more...] about How Will You Age in Place and Be Able to Die at Home?
The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Learn what steps you can take to prepare yourself and help prevent its spread. Read on to learn more. … [Read more...] about Preparing for Coronavirus
On January 26th, shocking news came out of Calabasas, California. Basketball great Kobe Bryant, who was just 41 years of age, died in a helicopter crash along with his 13-year-old daughter Gianna. Seven other people passed away along with them, and they were all minors or relatively young adults. There is nothing that can be stated about this tragedy that has not already been acknowledged in a general sense. However, from an estate planning perspective, it points out the importance of … [Read more...] about Kobe Crash Shows Importance of Planning