Tag Archives: estate planning
“Cover Your Assets!” The Truth About Asset Protection Planning
Some people believe that asset protection planning is a less-than-ethical form of wealth planning. They believe there is a moral obligation to pay one’s debts, and therefore think that asset protection planning is immoral because it prevents a creditor from collecting on a judgment entered by a court. The truth is . . …. Read More »
Want to Give the Kids an Early Inheritance? 4 Things to Consider
If you’re thinking about giving your children an early inheritance, you’re not alone. A recent Merrill Lynch study suggests that these days, nearly two-thirds of people over the age of 50 would rather pass their assets to the children early than make them wait until the will is read. It can be especially satisfying… Read More »
Integrating a Community Property Trust into Your Estate Planning
A well-crafted estate plan is comprised of many individual parts, and careful, trust-based estate planning is the best way to preserve your family’s legacy for you and your loved ones. One way couples can get the most mileage out of their estate plans is through community property trusts. This is a special type of… Read More »
Which life events require an immediate estate plan update?
Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan… Read More »
Life Insurance and Estate Planning: Protecting Your Beneficiaries’ Interests
One misconception people have about life insurance is that naming life insurance beneficiaries is all you have to do to ensure the benefits of life insurance will be available for a surviving spouse, children, or other intended beneficiary. Life insurance is an important estate planning tool, but without certain protections in place, there’s no… Read More »
Got Stuff? George Carlin Says You Need an Estate Plan!
George Carlin would have been a great pitchman for estate planning. You may remember his stand-up routine on “stuff.” We all have stuff, and we’re pretty particular about our stuff. We move it around with us, it’s hard for some of us to get rid of it, and some of us don’t like our… Read More »
Are Handwritten Intentions Enforceable? Princess Diana Thought So…
Princess Diana of Wales was one of the world’s most loved celebrities – and one of the richest. Her tragic death in 1997 was world news. The majority of her estate, reportedly worth $40 million at the time of her death, was divided between Prince William and Prince Harry in her estate plan. However,… Read More »
Why Factoring Long-Term Care into Your Estate Plan Pays Off
For most people, thinking about estate planning means focusing on what will happen to their money after they pass away. But that misses one pretty significant consideration: the need to plan for long-term care. The last thing any of us want to contend with when a health issue arises later in life is having… Read More »
‘Till Death Do Us Part, Too: Estate Planning Tips for Commitment Without Marriage
Advice columnist Ann Landers once observed that “love is friendship that has caught fire.” If that’s true, there are thousands of ways for that blaze to unfold. For many Americans, such devotion and passion do not need to be neatly formalized as marriage. In fact, our cultural norms are shifting, and quickly. Consider… Read More »
Do It Now: Why Naming a Guardian for Your Child Can’t Wait
We know it’s hard. Thinking about someone else raising our children stops us all in our tracks. It feels crushing and too horrific to consider; but you must. If you put off naming a guardian for your child, it’s possible that a stranger will end up determining who raises your child if something happens to… Read More »
