Posted on: April 7, 2025
Estate planning is an exercise in anticipating potential future events that could affect your plans for what happens if you become incapacitated (unable to manage your own affairs during your lifetime) and how your assets (property and accounts) will be handled after your death. One crucial aspect often overlooked is how to include your unborn […]
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Posted on: April 3, 2025
Many estate plans contain revocable living trusts that will become irrevocable (cannot be easily changed or terminated) when the trustmaker dies. Such trusts may benefit the surviving spouse during their lifetime and may continue for the benefit of several additional generations. Because these trusts can be designed to span multiple decades, choosing the proper succession […]
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Posted on: March 31, 2025
Clients often ask estate planning attorneys where they should store original estate planning documents—wills, trusts, powers of attorney, and healthcare directives—for safekeeping. While there is no right or wrong answer to this question, consider the following: Should you store your original estate planning documents in your safe deposit box? Some people believe the best place […]
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Posted on: March 27, 2025
You’ve spent years building a solid nest egg—through discipline, hard work, and smart choices. Then one day, over morning coffee, you catch a news headline about a major bank failure. Your heart sinks as you realize a large portion of your cash savings could be at risk because your accounts exceed FDIC insurance limits. This […]
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Posted on: March 24, 2025
You may be surprised to learn that not only has asset protection planning been around for a long time, but you likely have already engaged in it at some point. You probably have one or more types of traditional asset protection planning currently in place. The problem is, in many cases, the type of planning […]
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Posted on: March 20, 2025
Many believe that those assets are protected from lawsuits once they set up a revocable living trust and transfer ownership of their accounts and property from themselves as individuals to their trust. This is not true, as this trust protection myth does not hold in reality. While trusts commonly serve as effective vehicles to protect […]
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Posted on: March 17, 2025
A common misconception is that only wealthy individuals and people in high-risk professions, such as doctors or lawyers, need an asset protection plan. However, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that could crush your finances. For everyone, it’s wise to […]
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Posted on: March 13, 2025
Planning for the future of your home can be complicated, especially when you want to ensure that a loved one can continue living there after you are gone. Two standard tools for accomplishing this are life estates and right of occupancy trusts. A life estate grants someone the legal right to live in a home […]
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Posted on: March 10, 2025
Suppose the last time you and your spouse updated your estate plan was over a decade ago. In that case, your estate plan may contain what is sometimes referred to as AB trust planning, which, until 2011, was the only way married couples could take advantage of both spouses’ federal estate tax exemptions. Initial Reasons […]
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