- Asset Protection Planning
- Business Succession Planning
- Charitable Giving
- Disability and Special Needs
- Elder Law
- Executor and Trustee Responsibilities
- Financial Powers of Attorney
- Inheritance Planning
- Lifetime Gifts
- Medical Directives
- Planning for Minors
- Retirement Accounts
Senior with Children and Grandchildren
You may have reached a point in your life where you are financially and emotionally secure, and you wish to provide for your children, grandchildren, and possibly many more generations of your family. Even though you want to make life a bit easier for your descendants, you may have concerns about doing so in a responsible way that is customized for individual situations. It may also be important to you to pass on family values, traditions, and history to future generations. In addition to accounting for your assets in a will or trust document, your estate plan as a senior also needs to include healthcare documents and powers of attorney. These documents will ensure that trusted individuals or institutions are looking after your best interests. If you are ever unable to take care of yourself, you can rest assured that these competent individuals are taking care of your health and financial needs.
Big events are the milestones of our lives, and they should also prompt us to begin or revise our estate plan. At other times, we look at our personal timeline and realize that we need to get serious about estate planning.
Celebrities often teach us great lessons on what not to do, and estate planning is no exception. Your estate plan will most likely not be as complicated as a celebrity’s, but it is important that everyone consult an estate planning attorney to keep the peace and ensure that your wishes are followed.
Estate planning is making a plan in advance, naming the people or organizations you want to receive the things you own after you die, and taking steps now to make carrying out your plan as easy as possible later.
A basic estate plan is essential for everyone. At a minimum, everyone should have three estate planning items in place: an up-to-date will or trust, a durable power of attorney, and updated beneficiary forms.
As digital assets become more common to all of us, it is important to include them in estate plans. These four steps will help ensure you do this properly.
An estate plan, properly executed, can protect you as well as your family in the event of sickness, accidents, or untimely death. This eight-point checklist can help determine whether your estate plan needs help.
Almost everyone has some kind of retirement account—whether a 401(k), IRA, or pension—so proper estate planning for these funds is essential.
Careful estate planning can ensure that inherited IRAs remain safe from your beneficiary’s creditors. In most cases, establishing a standalone retirement trust will protect your assets without restricting your beneficiary’s access to them.
Making charitable giving a part of your estate plan is a great way to support your favorite charity without impacting your current lifestyle in any way.
Trust funding is the process of transferring ownership of your assets from you to your trust. Learn more about this process and how it fits into your estate plan.
As with other estate planning tools, transferring a residence to an adult child is not always the best option for everyone. If you are considering transferring your home to an adult child, it is important to first consider the risks involved.
The type of trust that will protect your assets from creditors is an irrevocable trust. Another type of trust, a revocable living trust, will not protect assets from creditors.
Depending on the laws of your state, handwritten notes to a will may qualify as a valid testamentary disposition.
For family business owners, estate planning is crucial to the success of the business. If you have not already drafted an estate plan that includes the succession of your business, begin today.
As our families grow, change, and become more complicated, their estate plans must grow and change with them. Those with minor children need to pay careful attention to their estate plans after divorcing their spouse.
If you or your spouse served in the United States military, there are several pension benefits that you may be eligible for.
Because your successor trustee should be someone you know and trust, many people name one or more of their adult children in this position.
Estate administration is the process that occurs after a person dies. It includes collecting probate assets, paying creditors, then distributing the remaining assets to beneficiaries.
Without proper parental estate planning, a disabled child who is unable to live independently may be left extraordinarily vulnerable.
Although you may never have to deal with the challenges that a diagnosis of dementia can bring, it is still vital that you complete your estate plan early, while you have the mental capacity legally required to make estate planning decisions.
Planning for incapacity involves creating a set of written instructions for how you want decisions related to your assets and healthcare handled should you not be able to make them yourself.
Every parent wants to make sure their children are provided for in the event something happens to them while the children are still minors. Proper estate planning can help you understand how to leave money to minor children.
Learn the many reasons why it is important to have an advisory team for your estate planning.
Learn how discussing inheritance with children can help them be prepared to handle even a modest amount.
How important it is to create an inheritance for your kids?
A family inheritance can mean more than just money; it can also mean passing down family values, traditions, and history to future generations.
Treating your children fairly in your estate plan does not necessarily mean you need to divide the inheritance equally.
Beneficiary designations can be quite useful, but they need to be considered as part of your overall estate plan.