You may choose to include a living trust as part of your estate plan for a number of reasons – such as avoiding probate, passing assets to beneficiaries in a more hassle-free way, etc. There are some common myths about living trusts that you may want to know so that…
You may want a guardian to be appointed for your family member or loved one who has been experiencing memory loss and/or whose decision-making process has been impaired. It’s difficult to see this happen to someone you love, and you may be struggling with how to find the best way…
Not only can gifting assets to your grandchildren help them get a better start in life financially, but it can also help you by reducing the size of your estate and the tax due after you pass away. An outright gift to each grandchild may be the simplest way to…
If you are one of an increasing number of people with cryptocurrencies or noncurrency blockchain tokens, you’ll want to make sure to include these assets in your estate plan so that your heirs know about them and are able to access them. Crypto assets have unique qualities that need to…
Although people typically want the inheritance a loved one leaves behind for them, there are some situations where an inheritance may be unwanted. In these cases, you need to disclaim the inheritance. Instead of feeling honored by an inheritance, some people may feel burdened by it for reasons such as:…
There may be specific items that you leave for certain family members and loved ones in your will, including some of your most prized items and collectibles. Those possessions that are left over can be covered by a standard “residuary clause” in your will. A residuary clause is a provision…
Having a pet brings many people joy and provides them with a living creature to take care of and to provide companionship. Unfortunately, pets are often overlooked in people’s plans for incapacity or death. The types of animals that one has as well of the needs of those animals should…
The start of a new year is a great time to revisit your estate plan, reflecting on things that may have changed since you last looked at these documents. As we begin the second month of 2022, here are some questions to consider for your estate plan: Do you have…
Have you moved from one state or another, or are you currently planning to move to a new state? People change states for a variety of reasons such as a new job, a more pleasant climate, or to live closer to other family members. There are always some hassles you’ll…
We often think of financial planning as a set of distinct practices – including those such as estate planning, investment planning, retirement planning, etc. But what events typically lead you to reach out to a financial advisor (or, if you are an advisor, when do your clients reach out to…