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Most people putting together estate plans expect their legacy to be a positive one. They might decide to leave specific property for individual family members or may provide instructions to divide the estate according to their overall value. There are advantages and...
Business owners must ensure their loved ones are cared for if something happens to them. They also have to balance the needs of their business with their personal wishes. This is where a business trust may come into the picture. A business owner who establishes a...
If you’re passing your business on, it’s important to carefully consider how you want to do so. Business succession planning is, in some ways, very similar to estate planning. As you seek the best results for your family and your business, it’s wise to have a plan in...
Most people do not have an estate plan, so you are already ahead of the game if you have created one. If you haven’t, along with roughly 2/3 of Americans, it may be time to consider getting one in place. But it’s not just drafting the estate plan that is important....
There are several types of power of attorney that individuals can utilize for various legal and financial purposes. Understanding these different types is crucial for anyone seeking to appoint an agent to act on their behalf in specific situations. General Power of...
Pets have become an essential part of most families in the United States. Most households own at least one pet, and it is not uncommon for people planning their estate to think about what will happen to their pet after they pass or when they can no longer care for it....
Many parents, particularly those close to their adult children, feel inclined to rely on them and welcome their participation and input in their lives, especially with sensitive matters like estate planning. Some adult children appreciate this closeness with their...
Writing a will presents challenges for most “authors.” Planning for a time when the document’s writer will be deceased is something that no one wants to face. Even though proactive steps can provide for a stable future for descendants, facing mortality can be...
Creating a thorough estate plan is integral to passing on your legacy. You have spent a lifetime surrounded by loved ones, and your estate plan allows you to offer support and peace of mind. Some aspects of estate planning are simple; you know how to distribute assets...
Parents are often the glue that holds families together even after the kids move out and start their own families. When the parents or loved ones die, leaving behind assets, that glue also dissolves. The family dynamic then shifts. It can occur over time or break...