If you have a beloved late grandmother, many images and memories may come to mind when you reminisce about her. You might picture her at her home or at the family vacation house during the holidays. Your memory could be a special meal that only she prepared for you or a place she took you […]
Studies consistently find that only about 25–35 percent of Americans have an estate plan, a shockingly low rate when you consider that, in the absence of a plan, the state—not you or your family—decides what happens to your assets, including your business interests. The overall business succession planning rate is higher, with about two-thirds of business […]
Estate planning is not just for the wealthy. Every adult should have an estate plan, yet surprisingly, most Americans do not. The perceived cost of creating one is among the most cited reasons for a lack of estate planning. Having somebody else pay for your estate plan can help with cost-related concerns. However, the consequences […]
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
