Estate Planning

What Is an ABLE Account? The Achieving a Better Life Experience (ABLE) Act established tax-advantaged accounts for people with disabilities. These accounts allow eligible individuals to save money that grows tax-free and can be used for qualifying disability-related expenses. Before…

The law describes estate planning as a legal document summarizing the property a person owns and how to distribute these assets when deceased. Property ownership includes individual as well as jointly owned bank accounts, stocks and bonds, retirement accounts, real…

Choosing how to title real estate is an important decision that can affect ownership rights, liability, taxes, probate, and how property transfers after death. For many people, their home is their largest financial asset, making the way property is owned…

In deciding who will inherit your property, the most simple way would be to divide it equally among the children. That is the straightforward choice when all your children are doing equally well. But if not – if, for example,…

A blended family is where a couple brings children into a marriage from a previous marriage and then possibly has children together. Blended families highlight the need for careful estate planning to make sure the needs of each spouse are…

At times, family members end up fighting over a parent’s favorite items when that parent dies. Arguments can take place over things like a coffee mug, a piece of jewelry, or a painting. These types of arguments can be eliminated…

As we grow older, the need for estate planning becomes more important. Many people avoid estate planning because they do not want to think about the end of life, failing health, or disability. Others believe that an estate plan is…

Understanding Irrevocable Life Insurance Trusts (ILITs) The federal estate tax exemption allowance seems to be at risk of being reduced, and so it may be a good idea to reevaluate your estate plan. Senate Democrats are proposing to lower the…

A pet trust makes it possible for you to continue to provide for your pet when you have passed. A pet trust is a legal arrangement that will specify how to care for and take care financially of your beloved…

To be sure your final end-of-life wishes are followed, you must prepare an estate plan. An estate plan allows you to make important decisions about your healthcare, finances, and the distribution of your assets. Without proper planning, your loved ones…