Wealth preservation plays a crucial role in estate planning. It ensures your assets remain intact and benefits future generations. A solid strategy helps protect your wealth from inflation, taxes, and market volatility. Regularly reviewing your wealth preservation...
A Commitment
to Each Client.
Month: August 2020
What are the warning signs of undue influence on a will?
Families may sometimes question the validity of estate planning documents. Some people draft wills when they are too old or too sick to really understand the implications of their estate planning decisions. Others may establish estate planning documents that include...
What if an estate beneficiary is under 18?
One issue you may run into as you make your estate plan is that you have beneficiaries who are under 18. Maybe you’re thinking about leaving financial assets to your grandchildren. You know that they can use the money to pay for their college education a decade from...
Fiduciary roles in estate planning
Much of estate planning concerns legal documents such as wills and trusts. However, it requires an executor or trustee to implement the instructions in those documents. The executor executes the will and trustees manage the assets held in trusts. These are fiduciary...
How a 529 plan can benefit your family in multiple ways
There are a number of ways that grandparents can help with the increasingly high cost of a college education (not to mention graduate school costs) for their grandchildren. If you want to ease that financial burden for your grandchildren (and their parents), it’s...
What happens when a deceased person has past-due income taxes?
People generally have to pay income taxes regardless of how much they earn or the source of their income. They file an annual income tax return to reconcile what they paid with their final financial information for the year. However, some people become complacent...
Pros and cons of unequal bequests
When parents draft estate plans, they do not always leave the same amount of assets to every beneficiary. This is known as leaving unequal bequests, and it has been growing more common over the years. Rather than giving four children 25% ownership of the family home,...
What traits should an executor possess?
Documents such as wills and trusts are a very important part of estate planning. They provide instructions on how an individual’s assets will be addressed upon their death. However, documents are only one part of the process. The individuals tasked with carrying out...
What is the role of Totten trusts in estate planning?
People who are creating an estate plan need to determine the best methods for ensuring their chosen beneficiaries will receive the specific assets the creator wants them to get. There are several estate plan components that can accomplish this. Some assets can be...
Avoiding probate with a trust
Most estates will pass through probate. This is a court-administered process supervising the execution of a deceased’s estate. It can take months, or in complex cases, years. During this time the beneficiaries will be unable to access the assets they are due to...