Estate Planning

An unexpected bonanza, whether from an inheritance, lottery winnings or a lucrative business deal, is undeniably life-changing. You may feel like running out and celebrating with a luxury purchase like an expensive car. A celebration may be warranted, but remember to...

In some previous blog posts, we’ve discussed the importance of including an advance health care directive in your estate plan. This allows you to legally codify your wishes for what kind of measures you want taken if you’re critically injured or ill and unable to...

An estate plan serves multiple purposes, but one of its primary aims is the protection of your assets. Therefore, a comprehensive plan will use various tools to preserve more of your wealth for future generations. Part of wealth preservation is lowering your tax bill...

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 This means that the money and possessions covered by it may not be removed or withdrawn.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...