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 [...]
There are three keys that everyone needs for a complete estate plan. These three things are not just for the wealthy, they are for everyone. If you want to have a complete estate plan, make sure that you have at least the following three things in place. 1. Up-to-Date Trust It is a [...]
Estate Planning for Children from Previous Marriages can be tricky! Estate Planning for Children from Previous Marriages can be complicated. When you add children from previous marriages, planning can become tricky. Typically, when you pass away all of your money will go to your spouse, and then when your spouse passes the [...]
Estate Planning for Single People Estate Planning for single people is often overlooked, it is a common misconception that the only people who need estate planning are those who need to care for their spouse or children after they pass away. Single people have a unique set of circumstances that actually make it [...]
Avoid Estate Planning Mistakes: Avoid Disaster! If you have already set up a revocable living trust with an attorney or certified legal document preparer, you may think you are all set. Be careful, you may not be! There are two common Estate Planning Mistakes that can wreak havoc on your estate plan. Leaving Your [...]
Compare Revocable vs Irrevocable Trust Options Living trusts are legal documents that you create while you are alive. You use these documents to place your assets into the trust. You do this so that after you pass away your assets are transferred to your designated beneficiaries. The two main types of trusts are revocable [...]
Living Will:Why You Need to Make One Now When you think about creating a will a few thing probably come to mind. You probably think about determining who will receive all of your belongings, property, and money when you pass away. You might also think about coming up with plans for your funeral or [...]
