Talk to Your Family About Estate Planning

You’ve already taken the first step: developing an estate plan. Your Will, durable power of attorney, and advanced health care directive have been signed and are stored away. Now it’s time to take the next step. It’s time to talk to your family about estate planning. Your Plan, Your Time Talking about estate planning can be hard. In addition to discussing your mortality or incapacity, family members may be unhappy Read More

Build Asset Protection into Your Estate Plan

A simple estate plan covers the basics: you get to choose who will represent you if you become incapacitated, who will make medical decisions on your behalf, and how your property will be distributed after you are gone. What a simple plan does not cover is how to protect that property before and after your death. That’s why it is so important to build asset protection into your estate plan. Let’s consider Jeremy, Read More

Trusts that Transfer Wealth

If you have built and/or acquired substantial assets over your lifetime, chances are you want to enjoy their fruits before passing them on to loved ones. Gifts are one way to share the wealth.  In addition, trusts that transfer wealth may reduce your taxable estate with some added benefits. Besides transferring wealth, you may be able to make charitable contributions and provide for future generations. Charitable Read More

Revocable vs. Irrevocable: Trusts for Tax Reduction

Every trust has a purpose. Avoiding probate and asset protection are common reasons for establishing a trust. Every trust is also either revocable or irrevocable. When choosing trusts for the purpose of tax reduction, it’s critical to understand the difference between revocable and irrevocable trusts. Revocable vs. Irrevocable – Some Basic Differences The biggest and most basic difference is that revocable trusts Read More

How to Avoid a Guardianship

When you hear the word “guardianship” you may think of children. It seems to be the most common occurrence – a guardian caring for a child. However, guardians also assist adults with their daily lives. Having a stranger take on that guardianship role is not always the best solution, though. With the right estate planning, you can learn how to avoid a guardianship when better choices are available. Adult Read More

Your Florida Estate Planning Guide

Your estate plan is one of the most important sets of documents you’ll ever prepare. However, estate planning laws vary from state to state. Knowing which documents to prepare can be confusing if you moved to Florida from another state. If you live in Florida, allow this article to serve as your Florida estate planning guide. Florida Estate Planning: The Will The document most people associate with an estate plan Read More

Keeping the Family Business

According to the Service Corps of Retired Executives (SCORE), there are 28.8 million small businesses in the United States. Family businesses make up 19% of that total. Roughly 60% of U.S. employees work for a family-owned business. These statistics do not reveal the painful decisions a family may face over the fate of their company. Unfortunately, families often must decide whether keeping the family business is in Read More

What Happens to My Social Media After I Die?

Social media has become part of the very fabric of our society. Through our online accounts, we share personal moments, reconnect with loved ones and friends, and often create a kind of digital legacy. Instead of boxes of love letters and ancient photographs our parents and grandparents kept, we now have posts on Facebook and digital pics of everyday life on Instagram. If you have open and active social media Read More

Ways Your Minor Child Can Inherit

People usually want their property and assets to go their spouses and children. However, what do you do when your child is under age 18? Are there ways your minor child can inherit if you die before they reach their majority? Fortunately, estate planning can address this situation to make sure your child receives the inheritance you want them to have. A Minor Child May Inherit with or Without a Will Wills are one Read More

3 Reasons to Review Your Will

When Joe K. passed away last year at age 52, his family began the process of probating his estate. They were glad he had left a Will. However, he prepared the Will when he was only 30 years old. Much had changed in the ensuing 22 years. Sally B. also left an estate plan for her family but had prepared it before she married several years ago. And Tony S.’s family and net worth have grown since he prepared his Will Read More