Warning: 6 Critical Factors for Parents with Minor Children, Part II

In our last blog, we detailed three important factors to consider for parents with minor children when planning. These included choosing a guardian, choosing how and when your assets will be disbursed, and choosing who will administer your assets to your children. Click here to check out Part I and learn more about these factors. In this blog, we continue our discussion of important factors to consider when Read More

Warning: 6 Critical Factors for Parents with Minor Children, Part I

Estate planning is incredibly important for nearly everyone, but the importance of good planning becomes even more essential when you have children. Every parent wants to provide as many opportunities and advantages as they can for their children, and passing on your assets in order to help give your heirs financial security is an excellent way to do so. But if your children are still minors, there are some unique Read More

What Happens to My Debts When I Die?

We’ve all heard the saying, “You can’t take it with you when you die,” but most people assume it means our money or assets. In fact, this saying also applies to our debts as well. Debt is an affliction of the living, and when you die it is the living who will be forced to deal with it. Fortunately, in most cases our debts cannot pass directly on to our loved ones, but they can severely impact the things you are Read More

Factors to Consider When Choosing an Executor (or Personal Representative) for Your Estate

If you were investing a great deal of cash, would you want someone else to choose your financial advisor for you or would you want to have control over the decision of who will be managing your money so you can select the best possible person for the job? The answer, of course, for most people is that they want to be able to vet and personally select the people who will be making important decisions for them. The Read More

Is A Spendthrift Trust Right For You?

Sure, you love your family. You want to provide for them and make sure they are taken care of after you are gone. But that doesn’t mean you have to trust your loved ones to be wise money managers. Some people simply aren’t good with money. Some have had bad breaks in their lives and spend their time fending off creditors. You do all you can to support them while you can, but who is going to make sure their Read More

Three Benefits of a Charitable Trust

Many people are inclined to use their assets to help leave the world a better place when they die. Some want to leave behind a philanthropic legacy while others just want to use the money that they will no longer need to do some good in the world. No matter your motivations, adding charitable donations to your estate plan will not only help others, but it will be beneficial for you as well. One of the best Read More

Four Disastrous Estate Planning Mistakes to Avoid

No one likes to spend time thinking about who will get their assets after they die, which is one of the reasons why so many people put off estate planning until later in life. But it doesn’t have to be a depressing or morbid undertaking. Knowing that your loved ones will be taken care of financially after your death can actually be comforting and give you one less thing to worry about. No estate plan is perfect, Read More

Estate Planning: It’s Never Too Early to Begin

Most people assume that estate planning can be put off until they reach middle age. While it’s true that older individuals will be concerned about how a lifetime of assets should be distributed, there are good reasons to start the process when you are much younger. Every adult should have a living will, which is also known as an advance directive. This document details your wishes regarding medical treatment under Read More

Estate Planning: Understanding the Role of Executor

An executor is a key component in an estate plan. In the state of Florida, we formally refer to that person as the Personal Representative.  He or she is entrusted with safeguarding the property of a deceased person until all taxes and liabilities have been paid, and then disbursing the rest to the designated and/or eligible heirs. Executors do not have to be experts in the law or financial matters, but they do Read More

Estate Planning 101: How to Have Difficult Conversations with Your Loved Ones

Talking to loved ones about estate planning is never easy, but it should be dealt with sooner rather than later to open the lines of communication. Here are some tips for approaching the subject in a way that is more comfortable for everyone involved. Think about how you bring it up Talking about life planning can stir up grief, anxiety, and other difficult emotions, so think about how and when you should Read More