Estate Planning

Most parents raise their children and see them step out into the adult world to pursue life on their own terms. However, in the unfortunate event that you and your child’s other parent were to die before your children turn 18, someone else would need to take legal...

All over the globe, there are sayings in various languages that roughly translate to “rags to rags in three generations.” What this means is that the first generation works hard and earns bundles of money, which the second generation subsequently squanders, leaving...

An asset protection trust is designed to protect your wealth from creditors and lawsuits. When you establish an asset protection trust, it is irrevocable. This means that the money and possessions covered by it may not be removed or withdrawn. Therefore, if you are...

Estate planning for an art collection requires careful consideration to ensure your cherished pieces are handled according to your wishes. Many do not give it much thought, assuming it will stay in the family, but when the collection contains valuable pieces,...

One of the tasks you should complete when making your estate plan is to name a power of attorney for your financial and legal affairs. They can step in to handle your affairs if you are unable to look after them yourself due to injury or illness. The position comes...

It is very rare for someone to pass away without any debt at all. They may not have substantial debt if they have paid off major expenses – their mortgage, business loans, student loans, etc – and taken direct steps to pay down what they owe. But they may still owe...

Songs and poems are written about finding love the second time around. But sometimes, that second chance at love comes with something else: a new family. That can make things like estate planning more complicated. Let’s look at some things to consider. Stepchildren...

A terminal illness diagnosis when you are still young and have amassed considerable assets is a terrible blow. You likely worked hard to build a successful career and financial security but now face the harsh reality of leaving it all behind. While coming to terms...

When planning your estate, you intend to bequeath your beneficiaries the best possible inheritance while also minimizing the impact of taxes. Among the taxes you'd want to reduce is the generation-skipping transfer tax (GSTT). Understanding the various strategies that...

The best estate plan possible doesn't just list someone's assets and name the people who should inherit those resources. Estate plans can also address future needs, including the possibility of incapacity later in life. A medical emergency like a stroke could put...