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]
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.
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.
Check out some often-overlooked retirement planning facts of life that everyone should be aware of.
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.
What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health or finances. You could lose the ability to pay bills, write checks, make deposits, sell assets, or otherwise conduct your affairs. Unless you’re prepared, incapacity could devastate your family, exhaust your savings and undermine your financial, tax and estate planning strategies.
My father only designated my mom as an agent on power of attorney forms, and they have not been updated in many years. Where do you think we should go from here?
You’ve heard the statistic: 55% of Americans don’t have a will and there are lots of reasons why If you’re one of those no-will Americans,
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
If you choose not to decide, you still have made a choice (“Freewill” by Rush). Estate planning is based on a single choice: will you
