Planning your estate is an important step in ensuring that you, your loved ones, and your estate will be taken care of in the event of your incapacity or death. A few documents can determine the type of medical attention you receive, who handles your financial matters, and how your…
Your estate plan is a way for you to make very important decisions regarding the future of your personal property, financial holdings and legacy. A proper estate plan is truly a gift. It provides peace of mind to the owner of the estate and grants family, friends, and other heirs…
Inheriting physical real estate, such as a home or vacation cabin, can be tricky to navigate. You have to consider your desire for the property, potential expenses involved in ownership, and the process of transitioning ownership of the property to your name. These situations become more complicated when you add…
If you inherit an individual retirement account, or IRA, there are a few key rules you should be aware of in order to avoid potential legal, financial, and tax issues. Failure to do so could result in a smaller legacy left behind and a headache for your beneficiaries. Never…
A Living Trust is an estate planning vehicle that helps you avoid probate by transferring property to the people and charities of your choice. The assets are held in the trust’s name and not in the name of the individual. For this reason, it is important to appropriately name the…
Estate planning can be a tricky matter. If it wasn’t difficult enough to make decisions regarding the end of your life and your estate beyond your lifetime, you are also expected to learn and understand a slew of new words and phrases. What are the main phrases you must know to…
While everyone needs an estate plan, demographics show that women in particular should take steps to address the matter. Living Longer & Needing Care On average, women live five years longer than men. This means women have to face a few realities: (1) they are more likely to…
Estate planning for families is important. It allows a person to plan for the care and wellbeing of their family members and loved ones long after they have passed. What about people who do not have families to consider? More and more people are staying unmarried; according to the U.S.…
According to the Pew Research Center, more Americans age 18-34 are living with their parents than in any other living situation. Over 32% of people in that age group live in their parents’ house which leads to an interesting estate planning dilemma for the parents. While some adults who…
Estate planning is vital for all people wishing to have control over the distribution of their assets following their death. Women, in particular, should take time to plan their estates. In the U.S., women control nearly 40% of the nation’s investible assets and nearly half of those assets are managed…