Estate Planning for Unmarried Senior Couples
Creating an estate plan for an unmarried couple is already challenging. However, when the cohabitating couple is in their golden years, it’s especially tricky.
January 10, 2024
Marital Trusts help protect Blended Families
Understanding marital trusts is crucial for couples looking to secure their financial future and provide for the surviving spouse tax-efficiently. This article is a guide to marital trusts, how they work and their advantages and disadvantages. With the potential to safeguard assets and ensure that they reach the intended beneficiaries, marital trusts can be an effective part of a comprehensive estate plan, particularly for those in a second marriage or a blended family. What Is a Marital Trust? A marital trust is a type of irrevocable trust and is crafted to benefit…
December 18, 2023
Houses make horrible Wealth Transfer Vehicles
Somewhere along the way, homeowners came to believe a non sequitur of sorts, that the “American Dream” includes not only buying a house but also passing that same home on to their children. Financial advisers have largely supported this tactic for passing along generational wealth.
November 16, 2023
Complexities of Determining Who is a Descendant
Wills and trusts, instead of designating a specific person to inherit, often name a group or class of people such as your ‘children,’ ‘issue’ or your ‘descendants.’
August 28, 2023
Estate Planning issues in Multigenerational Homes
When multiple generations live on the same property, issues over ownership, who inherits what and who provides what can get complicated fast.
August 9, 2023
Important to Evaluate your Planning before a Second Marriage
If you are getting remarried, you obviously want to celebrate. However, it is also important to focus on less exciting matters, like redoing your estate plan.
August 7, 2023
Protecting Assets in a Second Marriage can be a challenge
Estate planning is nearly always worthwhile but can be extra important when you have stepchildren.
May 23, 2023
Avoid Unintended Consequences with your Planning
Although there is certainly no shortage of people with selfish or malevolent intent, a great number of estate plans that end in disaster are due to unintended consequences.
May 11, 2023
How an Annuity Beneficiary Works
Who you choose as the annuity beneficiary may impact how the annuity income is taxed if you pass away.
May 9, 2023
Protecting Inheritances in a Blended Family
As divorce and second marriages become increasingly common, more people find themselves raising children who are not biologically their own. Estate planning for blended families should address this unique situation.
April 10, 2023