Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally happen […]
Wills
Do I Need a Will or Trust?
Yes! Everyone needs a will, trust, or both to ensure your legacy is passed on in the way you intend, to provide for children, spouse, and family members, and in the case of trusts, to avoid probate. Wills and trusts are not just for the wealthy: A well-drafted plan ensures that what you do have […]
Why Receiving an Inheritance Changes Your Estate Plan
Receiving an inheritance is a huge blessing but, if not handled properly, can also become a curse. Often times, the inheritor does not know what to do with the new asset and runs into financial trouble, squandering most, if not all of it. This could happen due to the inheritor having outstanding creditor issues or […]
Wills vs. Trusts: A Quick & Simple Reference Guide
Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t What Wills Can Do – That Revocable Living Trusts […]
4 Tips For Avoiding a Will or Trust Contest
A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest. If you are concerned about challenges to your estate plan, consider the following: By following these four tips, […]
Wills Vs. Trusts: Take Control of Your Wealth Distribution
You work hard for your money and want to ensure that your wealth distribution goes according to your wishes upon death. Sadly, many people simply don’t understand the difference between wills and trusts and how they can affect inheritance. Don’t be one of them! Take control of your wealth distribution by understanding what wills don’t […]
Celebrities Who Failed To Recognize Unborn Children in Their Wills: A Teachable Lesson
Having an estate plan that protects and provides for your loved ones is not only smart, but it’s also necessary. Without one, your family, friends, or the charitable organizations you wish to provide for may not receive your gifts. It’s also important to remember to update your estate planning documents whenever something changes that would […]
5 Tips for Successfully Receiving an Inheritance
If you recently received an inheritance, or are expecting to receive one in the near future, it has likely triggered mixed emotions in you. You have lost a loved one and also experienced monetary gain. Studies show that a third of Americans who received an inheritance completely spent it within two years of receipt. Below […]