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When creating an estate plan, there may come a time when you need to choose a will executor. Conversely, you may one day find that you are responsible for taking on this task. Either way, it's imperative to understand the responsibilities of a will executor. This way,...
A growing number of people are creating a trust, as opposed to a will, as they consider what's best for them from an estate planning perspective. While this is a great idea on many fronts, it's important to note that trust administration laws are extremely complex....
While some people strongly believe that a will is the only estate planning document they need, others have come to find that a trust has just as much to offer. With this document, you're able to better manage your property while you are living. Furthermore, and just...
As a parent, you naturally want to do everything in your power to ensure that your children are provided for both today and in the future. To that end, you may have taken steps to execute an estate plan that not only appoints guardians, but also identifies your assets...
In our last post, we discussed how pet owners who consider their dogs, cats or other creatures to be members of the family naturally want to do everything in their power to ensure that they receive the necessary love and care, especially in the event of their sudden...
If you were to ask a random sampling of pet owners as to whether they consider their dogs, cats or other creatures with which they share their homes to be part of the family, chances are very good the majority of these pet owners would answer a resounding "yes."...
In our last post, we spent some time discussing how those who enable their loved ones to inherit valuable assets upon their passing -- real estate, stocks, etc. -- will ensure that they secure what is known as a step-up in basis, meaning an avenue through which to...
As we've made clear in prior posts, one of the primary objectives of estate planning is to ensure that as many of your hard-earned assets as possible are transferred to your loved ones upon your passing, such that that the federal government's tax interest is...
In our previous post, we started exploring how those with serious concerns about leaving anything of value to a loved one with a checkered past and/or track record of poor financial decisions might consider the creation of a spendthrift trust. To recap, a spendthrift...
When a person makes the prudent decision to execute a comprehensive estate plan, they are not only helping ensure that their tax liability will be minimized and their hard-earned assets distributed according to their exact wishes, but also that their loved ones are...
