Are you confused about the differences between wills and trusts? If so, you are not alone. While it is always wise to contact experts like us regarding your estate planning, it is important to understand the basics. Here is a simple reference guide which highlights the major differences between the two most common types of estate plans: […]
A properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted people what to do, when. While there are many types of trusts, the major distinction between trusts […]
When starting your estate plan, it is best to understand that one size never fits all. Estate plans are best when tailored to your needs, but it raises the question of which plan is the best for you and your family? The two most common types of estate plans are Will-Based Plans and Trust-Based Plans. The […]
According to the National Center for Education Statistics, in the 2018–2019 academic year, the average tuition and fees for a public four-year institution were $9,200; $35,800 for a private nonprofit four-year institution; $3,700 for a public two-year institution; and $18,400 for a private nonprofit two-year institution. If post-secondary education is in your family’s future, there are […]
Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. Wills are filed at the courthouse, and therefore probated estates become a matter of public record and can be seen by everyone. That means your nosy neighbor Nellie can simply go down to the […]
Today, many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust avoids the public, costly and time-consuming court processes of guardianship (due to incapacity) or probate (after death). Still, many people make a big mistake that sends their […]
Time seems to be one thing we just can’t get enough of. You spend your life working tirelessly to care for your loved ones, but still might not have prepared an estate plan to care for them once you’re gone. If you are able to answer the following questions or at least think them through, you […]
All children are a blessing. From the day they are born, you begin making plans to ensure that your child or grandchild has a bright future. What will their interests be? What job will they have? Who will they marry? While these are common concerns for most families, for those with child or grandchild with special […]
It is important to think carefully about your ability or willingness to serve as an executor or trustee for someone else. If a family member or friend has asked you to serve as the executor of his or her estate or as trustee of a trust he or she is creating, there are a number of […]
You and your spouse live together, you work together, and chances are you spend a lot of your free time together. Having a successful family relationship and family business together takes a lot of hard work and dedication but can also be among the most rewarding things in life. To help keep you on the right […]
