You have Options when Inheriting a House
Inheriting a residential property like a house marks the end of a life and the beginning of deciding what to do with the property and implementing that plan.
March 23, 2021
Talk to Your Children about Your Estate Planning
Many baby boomers may hesitate to discuss money with their children, but the reality is that a massive amount of wealth will be transferred in the next couple of decades.
March 15, 2021
A Trust Must Be Funded to Work
If you don’t also fund it, unexpected things can happen and some of those things may not reflect the intent to the grantor.
February 9, 2021
Creating a Letter of Last Instruction
A letter of last instruction is a document that outlines funeral planning processes and arrangements. A letter of last instruction should not be confused with a will or testament, which is a legal document that expresses an individual’s wishes on how and to whom their estate should be transferred after their death.
January 26, 2021
Estate Planning Can Address a Troubled Child
Every family has one–or maybe more–black sheep. They’re people who march to their own drum and handing them an inheritance could be problematic.
January 6, 2021
Using Trusts in Your Planning is a Smart Move
Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate taxes, while easing the administration of your affairs while alive and after you have gone.
December 29, 2020
How to Organize Digital Assets
You must now make sure that your loved ones have access to your digital assets should you die.
December 28, 2020
Ethical Will Should Be Part of Your Planning
My colleague’s father recently got infected with the coronavirus and had to be rushed to the hospital. The move was abrupt and hectic, and left no time for any deep conversation with his wife and family as he was being taken out to the ambulance.
December 22, 2020
How to Balance Homeownership and Medicaid
Many people work hard to acquire real estate and then later find that that real estate makes them ineligible for Medicaid to help pay for nursing home or in-home, long-term care.
December 17, 2020
How Do You Handle A Large Inheritance?
Let’s start with the numbers: 10 and 1,000,000,000,000. Over this decade, $1 trillion is expected to change hands through inheritance. The majority of that will end up in the hands of baby boomers. While one study found that the average inheritance was only $50,000, there will be a lot of inheritances in the $1 million-plus range.
December 9, 2020