Many people who put together an estate plan do so when they start a family – assuming they put an estate plan together at all during their lifetime. While putting an estate plan together is a good thing to do, many people make few updates once the plan has been created, despite other key life […]
Estate Plan
Estate Planning: Why Me, Why Now, and Is a Will Enough?
You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not exactly sure why. You may feel that you are not wealthy enough or old enough to bother or care. Or […]
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 […]
Is a Financial Plan Enough? Why Experts Say You Need an Estate Plan, Too
If you want to leave a robust financial legacy for your family, a financial plan alone is like trying to guide a boat with just one oar. It’s only part of the big picture for your overall monetary health. A well-informed financial plan is worth your time for several reasons, but let’s look at how […]
Is Your Estate Plan as Stale as Last Week’s Ham Sandwich? 5 Reasons to Update Your Estate Plan
Estate plans are almost magical: They allow you to maintain control of your assets yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can even keep your family and financial affairs private. But one thing […]
Your Estate Planning Binder: Tips for Proper Care and Maintenance
You finally crossed “getting your estate plan done” off your list, and you’ve (rightly) breathed a huge sigh of relief. By tackling this challenge, you’ve not only established protections for your loved ones and legacy, but you’ve also freed up some important “mental space” that had previously been preoccupied. Once you create the documents that […]
What Sumner Redstone’s Estate Planning Challenges Can Teach Us
Media mogul Sumner Redstone the owner of CBS and Viacom, among other holdings allegedly created quite an estate planning mess, according to a recent report in the New York Times. A June 2nd article reports that “with a fortune estimated at over $5 billion, Sumner M. Redstone could afford the best estate planning that money […]
Estate Planning for Rental Property Owners
In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers alike. If you have a home or other rental property that is generating income, you should understand the following asset protection and estate planning […]