Funding a charitable trust is a sophisticated estate planning strategy that offers a multitude of benefits, both for a donor and the community at large. By allocating assets to a charitable trust, individuals can achieve their philanthropic goals while enjoying...
Age Gracefully With A Plan In Place
Estate Planning
Have most people already made their estate plans?
Do you ever feel others have their lives so much more organized than you? That they’ve taken care of the things that responsible adults are meant to, and it's only you that hasn’t. If so, you’ll be delighted to learn most people do not have an estate plan. According...
Avoiding 3 common pitfalls when trust planning
Once used almost exclusively by the ultra-wealthy, trusts have become increasingly popular estate planning tools for people of relatively modest means – and for good reason. Trusts can safeguard assets, minimize estate taxes and make it easier to transfer wealth to...
3 reasons why second spouses don’t make good executors
You never expected to find love later in life, but a lot of people do – and you got lucky. You naturally want to make room in your estate plans for your second spouse, but you should probably think twice about naming your new spouse as your executor. Choosing the...
2 top causes of estate planning disputes
Estate planning is an important process that all adults should consider. Estate planning allows individuals to implement documents that provide instructions on how assets should be distributed upon a person’s death. Estate planning tools can also allocate child...
3 easy tips to keep your final will current, valid and secure
Your will is much more important than you may believe. Of course, it protects your final wishes, but perhaps more importantly, it gives your family guidance when they need it most - as they mourn your loss. Like most, you may take comfort in knowing your final...
Should you disinherit someone by leaving them a dollar?
Disinheriting someone means leaving nothing to someone who otherwise would have expected to get an inheritance. This could be a direct heir who would naturally inherit from you, or a beneficiary who was previously included in the will but is now being removed. One way...
How are bank accounts handled in estate planning?
Estate planning encompasses many tools and mechanisms to ensure your assets are allocated appropriately after you’re gone. It's not just about significant assets like homes and investments. Even everyday bank accounts must be carefully considered. When it comes to...
When should you update your estate plan?
There are many misconceptions about estate planning. Some people believe that it only applies to elderly people or those who have fallen ill. Thus, nearly two-thirds of Americans have no estate plan. If you’ve taken steps to address your estate, this is positive....
Why long-married couples should think twice about a joint will
A lot of married couples put off estate planning until well into their senior years. That’s risky for a lot of reasons. However, if you and your spouse have finally been convinced by your kids or your friends to at least get a will, you may think that a joint will is...