My business partner Shanna Tingom is a financial planner. She recently told me that one of her most frequently asked questions is, “What is the difference between a trust vs. an estate?” I actually hadn’t heard that one before. Shanna then told me the
How Not To Get Legal Advice
AdviceAsset DistributionAsset ProtectionBeneficiariesEstate PlanningFinancesIndividual Retirement AccountsInheritanceJoint AccountsTrusteesTrusts
Becky Cholewka: I wanted to do a quick video on how not to get legal advice because, unfortunately, this is one of the biggest areas that I see a lot of people trip up on. A lot of people are getting legal advice from their tax person, their financial
Setting Up POD or TOD On Your Bank Accounts
Advance DirectivesAsset DistributionAsset ProtectionBeneficiariesBusiness PlanningDebt SettlementDisinheritanceDocumentsEstate PlanningFinancesIndividual Retirement AccountsInheritanceJoint AccountsOnline AccountsProbateWidowsWills
Becky Cholewka says: I wanted to take a moment and give you a couple tips about your checking savings and brokerage accounts. One way to make sure these accounts avoid the probate process is to make sure you have a beneficiary listed on each of your
How Often Should You Review Your Estate Plan?
Advance DirectivesAdvance Health Care DirectivesAsset DistributionAsset ProtectionBeneficiariesDocumentsEstate AdministrationEstate PlanningFuneral PlanningMedicare Advanced PlanningPower of AttorneySpecial Needs PlanningWill ChallengesWills
Becky Cholewka: I always like assigning homework to my clients. It's fun for me, because it's something that somebody else has to do instead of me. One of the things of homework that I always assign is to make sure that my clients pick an important d
How Often Should You Review Your Estate Plan?
Advance DirectivesAdvance Health Care DirectivesAsset DistributionAsset ProtectionBeneficiariesDocumentsEstate AdministrationEstate PlanningFuneral PlanningMedicare Advanced PlanningPower of AttorneySpecial Needs PlanningWill ChallengesWills
Becky Cholewka: I always like assigning homework to my clients. It's fun for me, because it's something that somebody else has to do instead of me. One of the things of homework that I always assign is to make sure that my clients pick an important d
Probate in Arizona: Everything You Need to Know
A lot of angst seems to surround the word "probate," due mainly to general unfamiliarity with its meaning. Simply put, probate is the legal process that takes place upon a person's death, much of which is avoided if the decedent took proper steps during
Let’s Eat Grandma! Let’s Eat, Grandma!
(Commas save lives)
I saw this t-shirt in the Sky Mall magazine a few years back and completely cracked up. Crazy as it may seem, punctuation, grammar, and correct usage of legal words and phrases can save thousands of dollars on litigation and estate administration costs.
Who Owns Digital Assets?
These days, most of us have our music, movies and books on our computers or our phones. But what will happen to these collections once the owner dies? Cover via Amazon You may want your heirs to have these collections, but it isn't that easy to pas
Is A Trust For You?
Is a trust necessary for you or can you get by with a simple will? http://gty.im/101687451 There are several factors to consider when deciding if you should spend the money needed to set up a trust. Here are a few, says an article in Forbes:
Be Careful With IRA Beneficiary Forms
Despite what some people believe, retirement accounts are not included in wills. An article in the New York Times notes that who gets the money invested in a retirement account such as an IRA depends on who is named on the account's beneficiary form.
Inheriting A Collection May Mean Work
Adult children inherit many things when their parents pass away: money, property, family heirlooms and, sometimes, collectables. In many cases, it can be tricky to figure out what to do with the collectables. Photos (Photo credits: PB Teen) A st
Emptying Out The Parents’ House
Emptying out a house chock full of memories can be tough. It can take a toll both on your body and on your emotions. Record Player (Photo credit: Jeff Howard) Moreover, the task can easily provoke arguments among siblings. One may see dad's record
A Few Things You May Not Know About Wills
If you care about who gets your assets after you die, you know you need a will. However, there are many things about wills that a lot of people don't know. Last Will And Testament (Photo credit: Ken_Mayer) Here are four of them, says a story on Dai
When To Give Money To Your Heirs
You want to leave gifts for your heirs but you aren't sure when to do it. Should you gift them now or leave it to them after you pass away? (Photo credit: Tax Credits) Under the law this year, you are exempt from gift taxes up to a lifetime max of
Naming A Trustee The Key To Starting A Trust
If you are considering leaving property or other assets to heirs by means of a trust, one of the most important decisions to be made is who will run the trust once you are gone. That person -- your fiduciary -- will be responsible for managing the asse