Having a carefully planned estate can help to ease the pain of your family during a trying time, as well as make sure that your final wishes are carried out in the manner that you wish them to. However, when planning your estate, it is easy to make some common mistakes. Look out for these [...]
Estate planning should just be about what is going to happen to your assets after you are gone. If you are like one of millions of Americans you may end up suffering from Alzheimer’s or another form of dementia. If this happens, you want to have your estate worked out so that you can live [...]
College is expensive. Helping an adult child or grandchild fund their college education is something that they will remember and appreciate for their entire lifetime. If you are thinking about helping out a child or grandchild this way, you have a few options to consider when paying for college. Gifting the Money Directly The easiest [...]
It may seem like a great idea to give your home to your kids or other relatives. It reduces the tax burden you have to pay, you can still live there, and you are giving an asset to your loved one for the future. There are a few reasons you may consider before gifting your [...]
Estate planning is something that can be hard to think about. Once you have done it, it can be tempting to just let the plan ride and not think about it again. As time passes though, things in your situation might change that will require you to update your plan. Here are some questions you [...]
Having the proper legal documents drawn up for your parents or other elderly loved ones is more important the older they get. Having these conversations while they are in full possession of their mental faculties makes planning easier, but not the conversation. Nobody likes talking about the inevitable, however there are ways to encourage your [...]
It is more and more common for couples to choose not to be married. Even if couples choose to live together, there are some fundamental differences between the benefits that are afforded to married couples and those who choose not to get married. That is why we'll explain the importance of estate planning for unmarried [...]
When you are gone, you want your estate to provide for families and charities that you cared about. Part of estate planning is deciding what you want to give now as well as after you are gone. Benefits of Giving Now Giving now may help in reducing the tax burden on your estate once you [...]
While you might think that trusts are only for people that have quite sizeable estates, that is not the case. As a matter off act, the National Association of Financial and Estate Planning recommends trusts for estates with a wide variety of assets. Trust Costs The maintenance cost for a basic trust can vary. Generally [...]
Estate planning can have a lot of moving parts to it. You want to get a head by considering all of your options and making sure that the legal details are handled. Here are some things to consider when you are planning your estate. Have a Will A will is one of the most important [...]