In order to protect your legacy and your heirs from excessive taxation, you should apply tax avoidance principles to wealth transfer. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion.…
Often, trust funds are referred to as something that is owned by a beneficiary. Some may believe that only wealthy people have trusts, but they are common and useful tools when creating estate plans of all sizes. They…
You may be wondering how estate planning differs from elder law as you begin planning for your future financial affairs and health care needs. Estate planning and elder law also have some similarities. Even though these two types…
In spite of the fact that over 50 percent of Americans find estate planning important, only about 33 percent have a will. caring.com Those individuals with a will may have moved to a different state or forgot to…
Estate administration refers to the process of managing and dispersing an individual’s assets after he or she dies in the United States. This process typically includes identifying and inventorying the decedent’s assets, paying debts and taxes, and distributing…
A living will is also called an advance health care directive. It specifies what decisions you want medical professionals to make if you are incapable of making them due to accidents or illness. A living will is crucial…
Equitable asset division among children makes perfect sense in many situations. Yet, in some families, each child receiving the same inheritance can be inappropriate, deplete the estate’s assets due to ensuing litigation, or cause other family issues after…
History has never witnessed a financial time as turbulent as this one. Baby boomers preparing to pass on their legacies through estate plans put America on the brink of the largest ever transfer of wealth. Over the next…