Even if your asset base doesn’t measure up to the Bill Gates standard, you may consider using trusts in estate planning. This is because they can help your heirs in many different ways.
The most common question I get asked in our Mutual Interview is, “What’s the difference between a will and a trust?” The answer is based on the way each gets treated while you’re living and after you die. Whether you choose one or the other depends on your goals for your plan. [Read More]
The start of a new year—and a new decade, to boot—is a great time to assess your financial situation and look ahead. You’ll want to consider moves for the long term, but it’s also critical to pay attention to the details in the short-term, so you don’t miss an important deadline.
Elder law issues can be complex. One wrong word or move can mean the difference between a good result and disaster should you become incapacitated or if other unexpected issues should occur in your senior years. An elder law attorney can help you plan for what will happen, if you should become mentally or physically incapable of taking care of yourself and your own personal business matters.
A will and a trust are separate legal documents that typically share a common goal of facilitating a unified estate plan. While these two items ideally work in tandem, since they are separate documents, they sometimes run in conflict with one another–either accidentally or intentionally.
Adults with disabilities are living much longer than in the past, which means their aging parents must plan for the day when their dependent children outlive them.
This time of the year is a great time to revisit your estate plan, so you can ensure your legacy is protected for years to come.
I am named successor trustee in my parents’ trust. When the time comes, how do I sell the home and the other assets?
Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.
Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019.
