Beneficiaries Who Require Special Treatment During Estate Planning
Estate planning isn’t just about deciding who gets what. It’s about ensuring your loved ones are financially secure in a way that protects them from unnecessary risks. Some beneficiaries need extra consideration—whether it’s due to a disability, poor financial habits, substance abuse issues, or simply being too young to manage an inheritance...
Important Estate Planning Considerations When Nearing Retirement
Retirement is a significant life milestone but also a critical time to review your estate plan. As you shift from building wealth to preserving it, ensuring that your assets are protected and your wishes clearly outlined becomes more critical. Many retirees make the mistake of assuming their existing estate plan is sufficient,...
What Is Breach of Fiduciary Duty in Estate Planning?
Most people expect an executor or trustee to manage an estate with honesty and care. After all, fiduciaries are legally required to act in the best interests of beneficiaries. But what happens when they don’t?
Whether you’re a beneficiary concerned about protecting your inheritance or a fiduciary wanting...
How Life Insurance Factors Into Estate Planning
Life insurance offers more than just financial protection—it’s a way to provide security and peace of mind for your loved ones. When unexpected events occur, a well-thought-out life insurance plan ensures that your family has the resources they need to cover expenses, maintain their lifestyle, and move forward. It can also be...
Able Account vs. 529 Account: Comparing and Contrasting
When it comes to securing your financial future, choosing the right savings account can make a big difference. For families with educational needs or disability-related expenses, ABLE and 529 accounts each provide unique advantages. These accounts offer flexible planning and tax benefits, making it easier to set aside funds tailored to your...
How to Amend an Existing Trust
Trusts are powerful tools for managing and protecting your assets, but life changes. You may have welcomed new family members, adjusted your financial goals, or seen changes in tax laws. These shifts often mean your trust needs an update to reflect your current situation and intentions. Making adjustments to an existing trust...
When Should You Update Your Estate Plan?
Your estate plan reflects your intentions for the future, but those intentions can change over time. As life brings new opportunities, challenges, and milestones, your plan should evolve too. Relationships shift, families grow, and finances fluctuate. By revisiting your estate plan regularly, you can ensure it still aligns with what matters most...
Who Pays the Estate Tax, and How Can It Be Minimized?
When thinking about the legacy you want to leave behind, taxes are probably the last thing on your mind. However, they can play a significant role in how much of your estate actually reaches your loved ones. Estate taxes, in particular, can reduce the amount your family inherits, but the good news...
What Are the Disadvantages Of A Trust?
Trusts have gained popularity as a key estate planning tool, especially among individuals with substantial assets or complicated family situations. They offer advantages like bypassing the costs, public scrutiny, and delays of the probate process. However, while trusts can be appealing, they aren't the best option for everyone. Before deciding if...
Estate Planning for Non-U.S. Citizens
Planning for the future can be complicated, especially for non-U.S. citizens. There are unique factors to consider, such as different tax rules, residency statuses, and the implications of owning property or other assets in the United States. In this blog, we'll explore these aspects, offering clear guidance on the options available to...