It is not Wise to Leave your IRA to your Estate
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
March 25, 2021
Is it Better to Have a Living Will or a Living Trust?
Whether you need a living will vs. living trust as part of your estate plan depends on your overall financial situation and goals. However, it’s helpful to consider the advantages of including one or both in your planning efforts.
March 24, 2021
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
The Generation-Skipping Tax Can Make A Big Impact
Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.
March 2, 2021
The Difference between Power of Attorney and Guardianship
The difference between power of attorney and guardianship is a common question asked by adult children. Both roles share a duty to provide care and oversight of medical care and health.
February 10, 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
Some Fundamental Responsibilities of an Executor
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be tasked with carrying out a loved one’s final wishes.
February 2, 2021
Don’t Fail to Fund Your Trust
Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.
January 29, 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