Many often forget that changes in family dynamics and circumstances can threaten even the most well thought out estate plan.
While some of the differences between wills and trusts are subtle; others are not.
As with traditional estate plans, “micro” estate planning can help you plan ahead for the “what if” situations that may arise during your lifetime.
What many often forget is that changes in family dynamics and circumstances can threaten even the most well thought out estate plan.
As the old adage goes “anything that can go wrong, will go wrong.” Referred to as Murphy’s law, this well-known saying has no mercy. Sadly, estate planning is no exception to its wrath.
While gifting may be the right thing to do, it needs to be done so that everyone, including you, gets the maximum benefit. The tax implications to you depends upon the purpose of your gift, the type of gift, and whether the gift is to charity.
The end of the year can be a stressful time for many, but by completing this to-do list, you will be setting up for a financially secure new year.
While discussing estate planning needs can be straightforward and simple, the conversation can quickly become complicated when personalities clash or emotions get in the way.
Inherited retirement accounts do not have asset protection, meaning they can be seized by creditors.
Trusts are a foundational estate planning tool with a solid history for being highly effective in ensuring a person’s wishes are carried out.