Estate plans are important legal tools that help guide the distribution of your assets. These documents require a review and an occasional update. Common events that trigger the need to review an estate plan include a birth or death in the family, marriage or divorce,...
Estate Planning
Can you use estate planning to protect assets from creditors?
An estate plan is beneficial for many reasons. For example, these plans can help you to transfer assets according to your wishes and provide an opportunity to review your estate. When you take the time to review your estate, you may realize that it is vulnerable to...
What happens to debt when someone dies?
Navigating a loved one’s financial affairs after they pass is a difficult process. In addition to the emotional toll, you must also determine how to handle contact from creditors expecting payment for the loved one’s debts. In some cases, creditors may begin to come...
Testamentary trusts can better ensure asset control
Questions about how to provide for irresponsible family members and minor children are common in estate planning. Rather than simply not leaving assets to those loved ones, you may want to consider your planning options. Fortunately, numerous estate planning tools can...
Three estate planning tips for business owners
Entrepreneurs are incredibly busy. Between managing daily tasks, employees, business, and their personal lives, business owners rarely have time to sit down and enjoy their free time. Business owners may feel that they don't have time to dedicate to the estate...
Estate planning is important for different reasons
Doing a little research into the estate planning process before you start is a smart move. In doing so, you will find that there is no one size fits all approach. Estate planning is about understanding the laws surrounding transferring assets to family and loved ones...
Does your adult child really need estate planning?
The simple answer to this question is a resounding "yes." Once your child turned 18, he or she became an adult in the eyes of the law, even though you may still see them as your child. Legally, you no longer have access to certain information about your child. For...
The importance of estate maintenance
An estate is made up of things you own, such as your home, car, physical and digital possessions, financial assets, and other important keepsakes. Whether you have an endless amount of property and assets or not, almost everyone owns something that will become a part...
Should I use a will or a revocable living trust?
When you begin estate planning, one of the first decisions you may need to make is whether you want to use a will or a revocable living trust. Both documents allow you to plan how you want your wealth distributed after you die, but they work in different ways. Neither...
How could an estate plan save your small business?
Does your estate plan include your small business? All too often, when a business owner dies, their spouse and children must make difficult decisions about the future of the business. Without a will or succession plan, you may put your family’s finances, your business...