What Is Estate Planning? Here Is a Brief but Informative Explanation
Do you think that estate planning is only necessary for the ultra-wealthy? Do you question if you even have an estate? While most of us do not like thinking about the worst-case scenario, having a plan can provide invaluable peace of mind for both you and your loved ones. If you are asking yourself, what is estate…
Not a DIY Job: Why You Need an Attorney to Write a Will
This is not a DIY job. Here’s why you need an attorney to write a will. About 60% of Americans do not have a will or a living trust. Granted, thinking and planning for the end of life is not something anyone would be enthusiastic about. So, while most people know they should, they wait until…
Five Common Questions About Estate Planning
Here are five of the most common estate planning questions. While estate planning is not the most exciting thing to think about, it is necessary to make sure your children and family members are taken care of and your assets get distributed according to your wishes. Do not get overwhelmed by the estate planning process….
How Do I Go About Setting Up a Trust?
How do you go about setting up a trust? People often think a trust is set up only by rich people, but that is not the case. Many people set up trusts, and the reasons are varied. While some people set up revocable trusts to help with taxes, the majority of trusts are set up…
Can My Spouse and I Have A Joint Will Or Do We Need Our Own?
It is a common scenario: A married couple decides to get their estate papers in order, and when they get to the will, they see no reason why they cannot write a joint will. After all, they have had all the kids they plan on having or do not plan on having kids. The couple…
Who Will Help You Take Care of Your Estate If You Become Incapacitated?
Who will help you take care of your estate if you become incapacitated? You have provided for and protected your family for many years. However, when your children grow into adulthood, you will still have a legacy to protect. You will want to make sure that your estate remains a testament to your dedication and…
Is Inheritance Taxable? Your Guide to Inheritance Tax
The average inheritance that someone leaves behind is just shy of $200,000. But, getting an inheritance is often a bittersweet moment. While it can be a life-changing financial boom for many, it comes with the passing of a loved one. Unfortunately, you do not get to just put this money in the bank and walk away….
Age Is Just a Number: Why You Should Write a Will When You are Young
Studies show that 78% of millennials (ages 18-36) and 64% of Generation X-ers (ages 37-52) do not have a will. By contrast, 82% of those 72 and older and 58% of baby boomers (ages 53-71) do have an estate plan. While seniors are usually prepared for the worst, younger people tend to put off thinking about such…
Planning Pitfalls: The Most Common Estate Planning Mistakes
Most people do not like to think about their eventual demise, and they certainly don’t like asking uneasy questions about estate planning. In fact, 6 in 10 adults in the United States do not have a will or living trust. And that is a problem, considering how many people want their assets to pass on to their…
Do Not Plan Alone: The Benefits of Hiring an Estate Planning Attorney
Are you getting your affairs in order? Wondering whether you should hire an estate planning attorney? If you are planning your will and estate, then it is essential that you do not try to do it all alone. While you may think you can do it yourself, the whole process will go a lot smoother…