The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, fees can run into tens of thousands of dollars. The good news: probate costs can be reduced by avoiding probate. It’s really that simple. Here are three simple ways […]
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 […]
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 […]
Organizing for Tax (and Estate Planning) Season
It’s the start of a new year, which means tax season — and this year’s April 15th IRS filing deadline — is just around the corner. Soon you’ll be receiving tax forms such as your W-2 or 1099s, and you’ll start thinking about the life events that could affect your taxes in various ways. This […]
Trusts – The Swiss Army Knife of Estate Planning
To the general public, a trust may seem like an advanced tool only for the wealthiest among us. But, the reality is that trusts are a foundational estate planning tool with a solid history for being highly effective in ensuring a person’s wishes are carried out. The process begins with the maker of a trust […]
Why a Trust Is the Best Option for Avoiding Probate
As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family to grieve and remember in […]
Who Should be Your Successor Trustee?
If you have a revocable living trust, you probably named yourself as trustee so you can continue to manage your own financial affairs, but eventually, someone will need to step in for you when you are no longer able to act due to incapacity or after your death. Your successor trustee plays an important role […]
Is a Revocable Living Trust Right for You?
Revocable Living Trusts have become the basic building block of estate plans for people of all ages, personal backgrounds, and financial situations. But for some, a Revocable Living Trust may not be necessary to achieve their estate planning goals or may even be detrimental to achieving those goals. What Are the Advantages of a Revocable […]