Comprehensive estate planning involves more than just creating a Last Will and Testament and possibly a trust for your heirs. Estate planning is also an opportunity for you to make sure that your wishes for end-of-life care and other related decisions are known to those who will administer your estate,…
In general, estate planning can be a difficult topic for many people. It can be especially difficult and personal when it comes to determining specific funeral plans that you may have. However, even though it is a difficult subject, it is important to consider how funeral planning as part of…
Dogs, cats, parakeets, horses, iguanas, ferrets…no matter the pet you have in your life, chances are you treat them more like family than just a possession. We want to make sure our pets are comfortable, have the best food, have plenty of entertainment, are healthy, and enjoy a long, happy…
If you have assets that will likely appreciate in value, including property that provides income or stocks that demonstrate growth potential, there are ways you can plan accordingly to help you avoid severe tax consequences that might otherwise be related to retaining these assets or allowing them to become part…
For most people going through estate planning, the goal is to pass on as many assets and as much wealth as possible. Most people don’t engage in estate planning with the goal of paying the most taxes possible or distributing assets to creditors. In fact, creditors can take a bigger…
A growing family often includes children. Sometimes, children come with special needs that need to be attended to throughout their lives. These special needs can include physical, mental, emotional, and/or developmental disabilities. When such needs arise, they can cost a great deal of money on a regular basis. A common…
The World Intellectual Property Organization defines intellectual property as “creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images sued in commerce.” Typically, intellectual property is protected by legal mechanisms such as patents, trademarks, and copyrights that help people achieve and maintain recognition…
When people begin the process of estate planning or take time to review their existing estate plan, they have many tax considerations to think about. How they distribute their assets will determine what taxes, if any, will apply to their estate. They may consider creating a trust for their children,…
Sometimes after setting up a trust, circumstances occur that change our goals for that trust. Recently, we wrote about how to fix a broken trust which occurs when a trust no longer serves the purpose for which it was established. However, a broken trust is not always the only reason…
While Americans have definitely paid more attention to estate planning in the last several years, not enough are yet taking estate planning as seriously as they should. According to WealthManagement.com citing a survey from Caring.com, only slightly over 40 percent of Americans have estate planning documents in place. The number…