We all have those nagging to-do items that never seem to make it to the top of our list, even though we know how important they are. Studies show that creating an estate plan is likely one of those tasks on your list.
At some point, we want to retire and enjoy the rewards of our labor, whether that means traveling, pursuing new hobbies, or spending more time with friends and family.
A domestic asset protection trust (DAPT) is a type of irrevocable trust designed to strategically shield wealth within US borders. However, DAPTs are not a one-size-fits-all solution.
It is important to remember that insurance remains your first defense for protecting your wealth and legacy.
To avoid the possibility that a disabled loved one will lose government benefits because they have too much money, you may want to consider setting up a standby supplemental needs trust as part of your estate plan.
This year has been unprecedented from a political perspective in many ways. President Joe Biden stepped into office facing huge obstacles related to the COVID-19 pandemic, an economy battered by the pandemic, a crumbling national infrastructure in dire need of repair, an ongoing immigration crisis at our southern border, and deep political and social divisions…
An often misunderstood but common estate planning tool that can appear in estate planning documents is the power of appointment. Not to be confused with a power of attorney (the document that allows you to delegate certain powers to an agent to act on your behalf while you are still living), a power of appointment…
Most of us would like to think that our children and grandchildren could handle a sizeable inheritance. The statistics say otherwise. Some studies have shown that most inheritances are totally gone within 18-24 months of receipt – regardless of the age of the recipient – and regardless of the size of the estate! The truth…
So, you’ve created a will, designating your heirs and setting forth their inheritance. You think everything has been well planned ahead of time. For all that, how sure are you that the inheritance you worked your lifetime to accumulate will be used and enjoyed by the people you want and by them alone? Have you…
Did you ever consider that you might want to do “special needs” planning even if you don’t have any special needs children or grandchildren? Can you imagine how one of your children could come to have special needs after you’re gone? One of our colleagues relates this story. Sid and Elaine had three children, and…