Powers of Attorney: Essential Estate Planning Documents Powers of attorney are an essential component of every successful estate plan. They allow you to name a trusted person to take care of specific things for you when you are incapacitated. There are several different types. The main ones you should have are a durable financial [...]
How a Revocable Living Trust Works Most have seen an ad for a Revocable Living Trust. You may have heard that it helps you avoid probate while still maintaining control of your assets. It may sound too good to be true, but it is not. In this article, we will go over how [...]
Sole Proprietorship or LLC Sole proprietorship's and LLCs are the most common business structures. Of the two, a sole proprietorship is the most popular and easiest to create. But it does not provide the legal and tax advantages that an LLC does. In this article, we will go over the main differences between a [...]
What to Do After Someone Passes When a loved one passes, you can feel overwhelmed. It is hard to deal with everything that is going on, when you add taking care of financial matters to the mix it can get even more complicated. We have compiled this list of 5 steps to take after [...]
Special Needs Trusts-What are They Special Needs Trusts are unique trusts. You can create one to care for a beneficiary who has a disability or other considerations. In this article, we will go over what advantage Special Needs Trust offer your beneficiary and how they work. Maintain Government Benefits The main benefit of [...]
Benefits of Dynasty Trusts Dynasty Trusts are special trusts that you can utilize for a complete estate plan. Dynasty Trusts have several benefits, such as tax reduction, providing for several generations, and protecting your loved one's inheritance from creditors. In this article, we will go in-depth about the advantages Dynasty Trusts offer. Then you [...]
DIY Estate Planning We live in a DIY (Do it Yourself) world. With so much information at our fingertips, we can learn how to fix our dishwasher, build a patio, or learn a new computer software, all for free. Many even use such information to do their own estate planning. However, this can [...]
Celebrities are People Too More than half of the American population does not have any type of estate planning documents in place. This can lead to probate nightmares! Celebrities are not exempt from this list. Despite their immense wealth, may celebrities have failed to put in place an estate plan, leaving an expensive mess [...]
IRA Distributions Typically, when the owner of an IRA passes, the assets are given directly to the person, or people, named as beneficiaries of the account. These beneficiaries will receive the money outright. This can cause problems for some beneficiaries for a variety of reasons. Whether it is that they have creditors who [...]
Benefits of Having an LLC Creating an LLC is one of the first steps to having a successful business. Why is creating an LLC so important? Having your business organized as an LLC will protect your personal assets from any creditors or lawsuits that come against your business. Without an LLC, your personal assets [...]
