10

May

Is Outright Distribution the Perfect Fit for Your Loved Ones?

Although Americans are living longer and spending more time—and money—in retirement, many parents intend to leave an inheritance to their children. The exact amount can vary greatly depending on individual circumstances and wealth levels, but even a small inheritance...

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09

May

The Trust Protection Myth: Does Your Revocable Trust Really Protect Against Lawsuits?

Many people mistakenly believe that once they set up a revocable living trust and transfer ownership of their accounts and property into the trust, those assets are protected from lawsuits. Unfortunately, this is not true. While revocable trusts can safeguard your beneficiaries&r...

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06

Mar

Should Your Child’s Guardian and Trustee Be the Same Person?

If you have overheard any estate planning discussions, you have likely heard the words “guardian” or “trustee. ” In estate planning, deciding who will ultimately be tasked with caring for your minor child or managing funds for their benefit is an important...

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06

Mar

Do It Now: Name a Guardian for Your Minor Children

We know it is difficult, even horrific, to imagine someone else raising your children. However, you must consider who you would choose to fill this important role. Otherwise, a judge—a stranger who does not know you or your wishes, your child, or your relatives and friends&...

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Categories: Estate Planning Trusts


06

Mar

What to Do with Grandma’s Ring: Dividing Personal Property in an Estate

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...

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Categories: Estate Planning Trusts


06

Mar

“Reel” America: Celebrating National Movie Month

An Estate Plan Is Your Script to a Lasting Legacy“We are all storytellers, and we are the stories we tell,” wrote American psychologist Dan McAdams. Narrative thinking refers to how we view our own role in the story of our lives. It is a more formal way of describing...

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Category: Estate Planning


06

Mar

The Perils of Joint Property

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 witho...

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06

Mar

Won’t My Spouse and Kids Inherit Everything When I Die?

You may think that if you die while you are married, everything you own will automatically go to your spouse and children. But you are actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as dying intestate. In t...

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Categories: Estate Planning Trusts


06

Mar

What Is a General Power of Appointment?

Your family, the economy, the law, and society can change rapidly and unexpectedly, affecting your best-laid estate plans in unpredictable ways. To achieve your estate planning goals, you need a plan that can keep up with the changes. And few estate planning tools provide more fl...

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Categories: Estate Planning Trusts


06

Mar

Pros and Cons of Naming Many Residuary Beneficiaries in a Will or Trust

You have meticulously created your estate plan to ensure that it includes and addresses all of your most important assets. You have reviewed your asset list repeatedly, and everything seems to be accounted for. But what if you have forgotten something? Americans own a lot of stuf...

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Category: Uncategorized