Whether one condone or condemn it, the trend of couples living together without being legally married (cohabitation) is continuing to increase in today’s society. With more couples holding off on marriage for whatever the reason may be (i.e. personal preference, financial, testing the relationship, etc.), cohabitation is the norm in the U.S. today.
Unfortunately, the law […]
With Inauguration Day right around the corner, here’s what you need to know about planning your estate under the incoming Trump administration and Republican-controlled Congress.
President Trump’s tax plan
A new president usually means major shakeups in fiscal and tax policy, and Trump’s tax plan is no exception. Here are several of the proposed changes we will […]
There are many tools that a qualified attorney can use to keep your assets out of probate – for example, establishing joint ownership on bank accounts and real estate titles, designating beneficiaries for life insurance policies and certain accounts, and so on. However, setting up a revocable living trust is quite often the best, most […]
In my previous post, I provided some information on the pros and cons of the probate process. The focus of this post is to explain in detail why you may want to avoid probate. When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can […]
The word “probate” often comes with a negative connotation. However, the probate system was established to protect the property of the deceased and his/her heirs. In certain cases, the probate system may even work to an advantage. Below are the pros and cons of going through probate.
The Pros
For some estates, especially those in […]
When it comes to estate planning, are you confused about the differences between wills and trusts? If so, you are not alone. While it is always recommended to contact experts like us, it is also important for you to understand the basics. Here is a quick and simple reference guide:
What Revocable Living Trusts Can Do […]
If you want to leave a robust financial legacy for your family, a financial plan alone is like trying to guide a boat with just one oar. It’s only part of the big picture for your overall monetary health. A well-informed financial plan is worth your time for several reasons, but let’s look at how […]
Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed.
Estate Planning Myth #1 – You Don’t Need an Estate Plan Because Your […]
Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either.
Here’s what will generally happen if […]
