A trust is not only a tool for the wealthy. In addition to serving many functions, they solve specific problems relating to the dynamics of families that have little to do with wealth. Do you want to keep your affairs…
Think about being ill and having to determine whether or not you can afford medical care. Unfortunately, for many Americans, seeking medical care hinges on affordability rather than medical necessity. About half of US adults have gone without or delayed medical care…
It is common for people to seek wealth transfer and estate planning strategies that not only preserve their assets but also benefit them financially during their lifetimes. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique…
How would you decide how to care for yourself if you were seriously ill or accidentally injured? You don’t have to be old to become incapacitated. A living will, a component of an advance health care directive, can outline your…
In an estate plan, assets are distributed in accordance with your wishes, and your loved ones are provided for after your death. It requires organization and strategy and begins with five key legal documents that can address many areas of…
A gun trust allows individuals to own firearms in a legal manner, allowing them to share access to firearms with others while remaining compliant with the law. This approach is beneficial for those who own restricted firearms or firearms regulated…
Wills, trusts, and transferring assets are typically thought of when people think of estate planning. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about what…
In the US, generation-skipping transfer (GST) is the US government’s tax on transfers of property that skip a generation. Its primary design is to prevent wealthier individuals from avoiding estate and gift taxes by transferring large amounts of assets to…
Despite its negative reputation, probate can sometimes be avoided or minimized with thoughtful estate planning. In reality, most heirs will have to navigate the probate process to some degree after losing a loved one. Understanding what probate is in conjunction…
It may be difficult to imagine that your child who once needed you for everything has suddenly become an adult when he reaches 18 (depending on the state). Now they are free to vote, marry, apply for a credit card,…
