The Elements of a Valid Trust

When creating a trust, it is important to understand the specific roles involved. The grantor is the person who establishes a trust. The designated beneficiary is the person who receives the assets held in trust when the grantor dies. Probate is unnecessary because trust property passes outside the Last Will and Testament or Intestacy law. […]

 What Is Portability in an Estate Plan?

Federal estate tax law includes a provision called portability. This provision only applies to married couples. It allows the surviving spouse to use any part of their deceased spouse’s unused estate and gift tax exemption. Including portability in an estate plan protects the surviving spouse from significant estate tax bills if the deceased spouse’s estate […]

TOD Beneficiary: What You Should Know

Your named beneficiaries will likely have to go through probate to receive your real property after your death if it is only in your name and not held in trust. Although transferring property into trust can ensure your family does not have to wait for a judge to validate your will before distributing your assets, […]

Why Estate Planning is the Best Holiday Gift You Can Give

This holiday season, give your family the gift of peace of mind by getting your estate planning in order. No one likes to think about their own mortality, but it’s important to have a plan in place that deals with illness, incapacity, and death. If you’re gathering with your family for the holidays, take advantage […]

How to Create a Business Succession Plan

Owning a business can be an all-encompassing task. When you are focused on the day-to-day management and administration of your business, it can be hard to think long-term about a succession plan. However, planning for the future of your business after your passing is crucial. Why Create a Succession Plan? Succession planning is important for […]

Why a Power of Attorney Is So Important for Your College Student

When most people think about estate planning tools such as power of attorney, they imagine that they are solely for people who already have children, who have significant assets, or who are nearing the end of their lives. However, you may be surprised to know that many estate planning lawyers also recommend that college students […]

What Single Seniors Need to Know About Their Estate Plan

Whether you’re a single senior who lives alone or one who lives with a partner, establishing a new estate plan or modifying an existing one is essential. You might wish to leave assets to your partner that they could not get through intestate succession, or maybe you have children you want to leave your assets […]

Is it Better to Inherit Stocks or Cash?

Inheriting any assets from someone’s estate could benefit a person financially. However, it can also create some challenges. Cash and stock inheritances come with various advantages and disadvantages. Although they provide the funds someone might need to pay necessary expenses or grow their portfolio, some complications could arise. When you’re inheriting either cash or stocks, […]

Planning for Your Digital Legacy

An estate plan often focuses on tangible property such as jewelry, artwork, money, and vehicles. However, in this age of technology, it is important to remember to include your digital assets. Digital assets consist of everything we own online. Because we spend more time on computers and smartphones than we ever did before, you may […]