If you die without a valid will, your state may keep more of your assets than if you have a will. Your family won’t have any control and the court will follow the laws of your state regarding how your assets are distributed. That’s probably not what you want to happen, according to the article “People […]
Does a Will Protect My Money and My Family? Read More »
trust fund is a legal entity you create that takes ownership of your assets and ensures that the assets are used in a way that’s beneficial to your loved ones, explains Yahoo Finance’s recent article entitled “How to Start a Trust Fund the Easy Way.” Trust funds are created by a grantor, who sets up the trust and
How Do I Create a Trust? Read More »
A stock market downturn may be a prime time for a Roth IRA conversion, reports CNBC’s recent article titled “Here’s why a Roth individual retirement account conversion may pay off in a down market.” This is especially true if you were considering a Roth conversion and never got around to it. A Roth conversion allows higher earners to sidestep earnings
Is a Roth Conversion a Good Idea when the Market Is Down? Read More »
A pour-over will is a type of will that’s created in conjunction with a trust. It can help facilitate the transfer of assets, if a trust’s grantor (the person establishing the trust) has failed to transfer all intended assets into the trust. A pour-over will can be an important part of a person’s estate planning checklist. Bankrate’s recent article
Should I have a Pour-Over Will? Read More »
If you are very close to the person who has passed away, you’ll likely have a lot to do immediately after their death. Katie Couric Media’s recent article entitled “What to Do Immediately After the Death of a Loved One” says that it’s normal to feel like your brain short circuits each time you try to make a
What Do I Need to Do Right after Spouse Dies? Read More »
If you don’t plan appropriately and thoughtfully, problems may arise with respect to this property and your family when you are gone, says Kiplinger’s recent article entitled “Your Vacation Home Needs an Estate Plan!” Speaking with your spouse and children is a good first step to help determine interest in retaining the property for the next generation and
Should an Estate Plan Include a Cabin on the Lake? Read More »
Does your estate plan need a revocable trust? The answer depends on the types of property you own and the goals you have for your estate plan. An estate plan should be prepared to solve your specific current and foreseeable issues – no more or less. When clients don’t own any probate assets, a revocable trust may
Should I have Revocable Living Trust in Estate Plan? Read More »
The Huffington Post’s recent article entitled “The Biggest Mistakes People Make In Their Wills, According To Estate Lawyers” explains that your last will and testament is one of the most important legal documents you’ll ever have. A will lets you state where you want your property, minor children and debts to go after you die. It also allows you
What are the Biggest Estate Planning Mistakes? Read More »
As home prices increase, more beneficiaries are choosing to keep the home they inherit instead of selling it for cash. In some cases, this raises an issue: does a beneficiary of a home also receive the mortgage? Inheriting a home with a mortgage adds another layer of complexity to settling the estate, as explained in
Can You Inherit a House with a Mortgage? Read More »
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