Three Reasons You Need An Estate Plan
Sometimes when people think about an estate plan, they think of only a last will and testament, but an estate plan is much more than a will. Especially since all of an individual’s assets can sometimes be distributed without a will. More important are the other documents that comprise an estate plan such as a […]
Talk About Money Before Heading To The Altar
With wedding bells in your future, you may think that discussing money with your future spouse is gauche. It isn’t. Talking about finances may be nearly as important as talking about the reception or honeymoon. Maybe more important. According to an article on cnbc.com, talking about finances — budgets, insurance, savings and so forth — […]
How to Preserve the Vacation Home for Your Family
Estate planning is about more than passing on assets, it is about passing on a legacy, and a way of life. As a recent article explains, one way parents can pass on their way of life is to preserve the family vacation home for their children. There are two common concerns parents face when determining […]
Prevention is the Best Medicine & Why You Should Consider a Corporate Trustee
Revocable living trusts are a powerful and commonly used estate planning tool. Whenever a trust is created, there is also an accompanying position created called the trustee. The trustee is a person or entity appointed within the trust document that is responsible for the administration and management of the trust. The trustmaker usually […]
Finish Your Planning in 2014
If you don’t have an estate plan, a recent article suggests that one of your 2014 resolutions should be to create one. Everybody, without exception, can benefit from the creation of an estate plan. The article discusses several of the many benefits that an estate plan can provide, such as: An estate plan gives the […]
Updating Your Listed Beneficiaries
Once you have a comprehensive estate plan in place, it is important to keep it up to date. This is particularly important for the beneficiaries you listed for things like retirement plans, IRAs, life insurance policies, bank accounts, and investment accounts. A recent article outlined the following six reasons for why you should update beneficiaries […]
Updating your Will with a Codicil
Executing a will is a great way to begin the estate planning process. However, it is important to continually update a will as your circumstances change. Marriage, having children or grandchildren, a major change in your finances, and the sale of a house are all examples of situations where it can become important to update […]
I Have a Will, is my Estate Plan Complete?
More and more individuals are turning to the Internet to cheaply create their Last Will and Testament. Although a will is a vital part of any estate plan, a good estate plan includes more than a will. A recent article discusses three additional documents individuals who just have simple wills should consider executing. […]
The Intersection of Inheritance and Financial Aid
Assisting a child or grandchild in paying for his or her college education is one of the greatest gifts that can be given through estate planning. This is often accomplished through creating a 529 college savings plan or trust account. As with all estate planning maneuvers, however, these actions do not come without potential consequences. […]
Six Estate Planning Mistakes to Avoid
One important facet of estate planning is beneficiary designations. These designations are common on documents such as insurance policies and retirement plans. Although it may seem simple to put a name on a designation and forget about it, this can often lead to adverse consequences. A recent article discusses six things that can go wrong […]