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Posts tagged "Estate Planning"

Trusts: What is the difference between revocable and irrevocable?

A trust is a legal tool that allows the creator to have greater control over his or her assets. Depending on the structure of the trust, the legal tool can result in tax benefits, shelter assets from creditors and even guide how money is used in the future.

Distribution of assets part II: Proactive steps for a fair split

As discussed in our previous post, When is an Equal Distribution of Assets a Bad Idea?, available here, splitting assets does not always work out as we may intend. This post will discuss some proactive steps you can take to better ensure an equal inheritance.

When should I update my estate plan?

Ideally, an estate plan should be an evolving set of documents. These legal tools should change and grow with you — not remain static. Those who put together an estate plan and forget it are less likely to have an estate plan that truly reflects their desires then those who review the documents and make updates.

Most people forget this asset in their estate plans…did you?

Estate planning provides the opportunity to review and account for all assets. Most people have plans that include tangible forms of property, retirement accounts, stocks, bonds and business interests. But did they remember to include digital assets?

Avoid a legal battle over collectibles: Importance of appraisals

Those who are looking to bequest collectibles within an estate plan are wise to have an accurate appraisal completed for the items. Getting an accurate appraisal for these keepsakes can be difficult.

3 important questions when choosing a guardian for your child

Choosing a guardian for your child is difficult. The process is more than just a legal decision, it is full of emotion. It is often tempting to delay the conversation — especially when everyone is young and in good health. However, as noted in our last post, an estate plan is important for everyone, even young families. This decision is more than just a box to check off a to-do list, it is an important step towards ensuring the future well being of your family.

The importance of 'keeping it real' in estate planning

The major holiday gift giving period is largely over. Hopefully you got all that you hoped for. In some families, some fun may have been had by exchanging so-called white elephant gifts. What that means is that someone might have wound up with one of late Uncle Murd's special collectibles, like the "Oh, So Comfy" Dachshund plate.

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