None of us likes to think about our own death or enjoys planning for that occasion. However, if you do not create an estate plan or fail to keep it updated, you are likely setting your loved ones up for even more stress and grief after you pass away. It may add to your own […]
A critical question to ask yourself when creating an estate plan is who will get your stuff when you pass on? People often think of an estate in relation to the larger assets (such as homes, retirement accounts, savings), and personal property (i.e. jewelry, clothing, sports equipment, vehicles, and other possessions are often overlooked). The […]
One of the most common forms of property ownership in the United States is joint tenancy with rights of survivorship (JTWROS or joint tenancy). But what is joint tenancy? Joint tenancy is a legal right to property that provides the owner an undivided right to the enjoyment of the property. In other words, one joint […]
What constitutes a “large” gift can be relative. That being said, if you are considering giving cash or property to someone, a little bit of planning can really help avoid negative consequences. This is particularly true if the gifted amounts are over $15,000.00, will be gifted in property, will be gifted on a regular basis, […]
