Estate Planning Pitfalls for Business Owners When you have a business, you need a plan about who will take control of it and who will profit from it if you are incapacitated or deceased. It adds an extra layer of complexity to estate planning. In this article, we will go over 5 common estate planning pitfalls for business owners. 1. Not Having a Trust or Will Without a will or trust the state will [...]

Planning for Incapacity For many people, estate planning is focused on distributing assets after death. But you also need to plan for incapacity due to injury, illness, or aging. Incapacity means you are unable to make decisions and cannot manage financial, personal, and health care matters. In this article, we will go over what you should know when it comes to planning for incapacity. Value of a Power of Attorney A power of attorney [...]

What Information is Needed to Set Up a Trust? Now that you have decided that a living trust is the right estate planning tool for you, what do you do now? What information do you need to set up a trust? In this article, we will go over what you need to set up a trust. Successor Trustee Your successor trustee is the individual or individuals who will care for administering your trust on [...]

Testamentary Trust Frequently Asked Questions A testamentary trust is a type of trust that only comes into existence through the probate process. In this article, we will go over five frequently asked questions about testamentary trusts. What is a Testamentary Trust? A testamentary trust is a type of trust that is created through a Last Will and Testament. It does not officially come into existence until your death and authentication from the probate court. [...]

Medicaid Asset Protection Trust A Medicaid Asset Protection Trust can help you to qualify for your long-term Medicaid care when you have assets in excess of their limits, without spending those assets down. By transferring assets into this type of irrevocable trust they protect them from being counted against you for eligibility purposes. In this article, we will go over the basics of how a Medicaid Asset Protection Trust (MAPT) works. Why Are MAPTs [...]