A comprehensive estate plan is important for all adults. One of the primary purposes of an estate plan is to provide information about what to do with your assets when you pass away. There are many options available to achieve this end effectively. One option that you...
Taxes are one of many factors that influence someone's estate plan. Beneficiaries may trigger taxes when they sell inherited resources. Both the decedent and the estate could be responsible for income taxes. Very large estates could also be subject to federal estate...
Powers of attorney are typically documents that enable a person to appoint another person to make decisions, access information, and handle certain matters if they cannot do so. Generally, the most common types of powers of attorney are: Financial power of attorney...
When you’re making an estate plan, you have the option to put your assets into a trust. The alternative would be simply listing heirs and assets in your will, which means that those heirs will inherit the assets you have indicated, once your debts have been settled by...
Estate planning is a way to pass your assets on to the next generation, but it also goes far beyond that. It is a complex and wide-ranging plan for the end of your life, and it may address things like medical care, taxes, financial decisions, business ownership and...
Did you know that your estate plan could protect your children and their needs if you are hurt or pass away? Your estate plan can include a guardianship that assigns a guardian in the event that you or your children’s other parent cannot care for them. It can also...
While working on your estate plan, something you need to consider is the taxes that may or may not need to be paid. You may have a goal to pass on a certain inheritance to each child or loved one you leave behind, but the legacy you intend to leave may not be as grand...
Part of the joy of estate planning is knowing that people you care about will benefit from a lifetime of savings and earning. A large tax bill, however, can reduce that benefit significantly, leaving heirs and beneficiaries with much less than you intended to give...