Irrevocable Trusts have long been an effective, albeit static, estate planning tool. These trusts didn’t always change with circumstance, but now they can. This article explores how.
Transferring real estate to a trust has become a widely used tool in estate planning. Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences. With careful planning, you can avoid these traps. Read on to learn more.
It is great to have somewhere special to go when you can carve out some spare time, and when you own a vacation home, you are making an investment. In the end, you enjoy the luxury, and you actually turn a profit doing it if everything goes according to plan. At the same time, you […]
What happens when an individual who is not licensed to practice law provides advice to an individual – does the quality of the advice matter if the individual is unlicensed? This article explores the unauthorized practice of law and how it damages the legal profession.
During times of high stress such as tragedy or emergency, we tend to feel helpless. This article explores how a comprehensive estate plan helps reduce anxiety in uncertain times.
A significant percentage of first marriages end in divorce, and most of these individuals get remarried eventually. Of course, there are also widows and widowers that tie the knot, so we have a lot of blended families in the United States. If you are getting remarried as a parent, you should definitely consider the estate […]
Advisors often include irrevocable trusts as part of a comprehensive estate plan to achieve both tax and non-tax goals. The use of irrevocable trusts can cause apprehension because of the perception that irrevocable trusts are inflexible in changing circumstances. This article explores how the use of a trust protector may provide flexibility in an irrevocable trust to address these concerns.
This article addresses a very important issue for families with family members that require in-home care and would like to shelter funds from oppressive long-term care costs. Elder law attorneys help clients address matters that are of interest to seniors, and long-term care is at the top of the list. Most older people will need […]
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article explores how specific bequests may provide unintended results. Read on to learn more.
Caring.com has been conducting annual surveys to keep tabs on the estate planning preparedness of American adults. Only 32.9 percent of people that responded to the 2021 survey had wills or trusts, but 60 percent of the participants felt as though estate planning is important. Most people know that they should act, but they procrastinate […]