How a Revocable Living Trust Works
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 a Revocable Living Trust works and how one can benefit you. The Set Up The person setting up the trust [...]
Sole Proprietorship or LLC: Which is Right for You?
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 sole proprietorship and an LLC. We will go over differences in three areas: creation, protection, and taxes. After having the [...]
5 Steps to Take After Someone Passes
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 someone passes. This short list will help you to get organized and complete what needs to be done. 1. Copies [...]
Special Needs Trusts
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 a Special Needs Trust is the ability to provide for your beneficiary without disqualifying them from any government benefits they [...]
Dynasty Trusts
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 can decide if they are a good fit for your estate plan. Provide for Generations Dynasty Trusts allow you to [...]
DIY Estate Planning Pitfalls
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 be a dangerous choice. In this article, we will go over some of the dangers of DIY Estate Planning. One [...]