Probate is the court-supervised process of settling a person's estate after death. While it serves a legal function, a lot of families do not appreciate the inherent delays it can cause and the all-too-public nature of the proceedings. For many families, probate can...
When you inherit property or investments from a loved one, you may be focused on the sentimental value of the property or the financial opportunity the assets represent. But there’s an important tax concept that can make a huge difference in how much you ultimately...
Blended families are now more common than ever, with second and third marriages being the norm amongst seniors – but they can make estate planning more complex. The goal is simple: you want to provide for your spouse, protect your children’s inheritance and avoid...
In times of economic uncertainty, many people postpone estate planning, believing it’s best to wait until the market stabilizes before formalizing their wishes. However, uncertain financial conditions actually make estate planning more important—not less. Whether the...
A Medicaid Asset Protection Trust (MAPT) is a specialized legal tool designed to help people protect their assets while planning for long-term care expenses and qualifying for Medicaid. Medicaid is a federal and state program that provides healthcare coverage,...
You have worked hard for everything you have – and you want to make sure that your loved ones benefit from your hard work in the future. Without proper planning, however, your wealth could be swallowed up by unnecessary taxes, creditor claims and legal complications...
A power of attorney (POA) is a legal directive that gives someone else the authority to act on your behalf – and they’re commonly used in estate planning for end-of-life management. You might, for example, empower your son or daughter to make medical decisions for...
Do you intend to hold onto your business until you die, or do you hope to pass the reins over to someone else and retire, first? There’s no “one-size-fits-all” answer to this question, but it’s one that often comes up in estate planning when testators hold...
No matter whether you have a small estate or a large one, the fundamental goal of estate planning is always the same: You want to make sure that your assets are distributed according to your wishes once you are gone. However, high-net-worth individuals often find...
People thinking about their legacies may decide to create trusts for a variety of different reasons. Some people with large business holdings create trusts to protect the organizations that they created or inherited from sale or dissolution after they die. Others...
