An irrevocable trust can be a powerful tool for protecting assets, reducing estate taxes and helping ensure a smooth transfer of wealth. However, it’s not something to rush into. Unlike a revocable trust, which allows you to make changes, an irrevocable trust locks in...
For many, family is the most important asset you can have, and ensuring their well-being is a top priority. You want to make sure that even after you’re gone, they're cared for and supported in the way you intended. Without a plan in place, important decisions could...
You’ve spent a lifetime building a legacy, and now it’s time to create an estate plan that reflects your wishes for the future. It's more than just the paperwork and legal formalities. It’s also about peace of mind. You do not want to leave your loved ones guessing or...
Many people procrastinate estate planning, saying they don’t want to do it too soon. For instance, they may want to draft a power of attorney so that another person can make healthcare decisions for them if necessary. However, they hesitate to do it while they are...
When facing a terminal illness, estate planning becomes an essential task to ensure your wishes are honored and your loved ones are cared for. While a difficult topic, addressing your estate plan can bring peace of mind and clarity during an uncertain time. Here are...
Estate planning is all about looking after your loved ones once you are gone. Ideally, you want a well-written plan that takes care of all of your wishes. You can use a will, trusts and other estate planning documents to do this. Failing to do this can result in...
Estate planning significantly involves making deliberate choices about who gets what. What about those you would rather not include in your will? While it may seem harsh, there are legitimate reasons why someone might choose to disinherit a family member....
Probate can be a long, expensive ordeal for your loved ones at a time when they are grieving. Creating a revocable living trust can make things easier for them. A revocable living trust has several advantages, one of which is that your estate won’t be subject to...
The estate planning process involves bequeathing your assets to loved ones while making sure that your wishes are honored and potential disputes are minimized. One effective tool in this process is a payable on death account, also known as a Totten trust, which allows...
Trust distributions can be set up in a variety of ways, and you get to decide in advance how you want to do this. If you’re using a trust as part of your estate plan, you get control over what happens to the assets in the fund. Even though you have already passed...