Some financial articles insist that a will is not the best way to leave assets to heirs. But why is that? Won’t scribbling something on a napkin work? Wills often lead to long and expensive court proceedings. Countless other more-efficient ways could be used, all of which more effectively pass property to family. But follow this […]
Category Archives: Trusts
If you are like many millennials, who are the first generation who grew up using the internet, you have likely amassed a much greater quantity of digital assets than members of previous generations.
Unfortunately, a startling 79% of millennials admit they never created basic estate plans in place. While your needs and goals may vary, nevertheless, estate plans offer important protection for every adult – including you!
Part 3 of a 3-Part Series Over the past couple of weeks, we examined important things to consider after losing someone to death. To read part one, click here. To read part two, click here. This week, we conclude the series by focusing on paperwork. Cancel benefits Family member recipients of Social Security, veterans, or other benefits […]
Determine which of your loved one’s accounts contains cash that can be accessed for the beneficiaries’ needs and other expenses. The last thing you want is for an item to be repossessed or the electricity turned off due to non-payment.
Along with your financial advisor, we can help determine which of your resources can be used to fund the special needs trust or if a life insurance policy may be needed to ensure that there are sufficient funds available to provide for the beneficiary’s care.
Most adoptions involve minor children. Arrange for someone to care for the new child if something happens to you. Appoint a guardian, i.e., a caregiver, in your will. This person will act as your child’s parent if you become disabled or die.
If you are an individual with a high net worth, financial planning often moves beyond retirement planning to laying the foundation for multigenerational wealth transfer or achieving philanthropic objectives.
It is important to contact an experienced probate and trust administration attorney to help you with the process, as well as any other legal matters that may arise during this difficult and emotional time.
If you are planning to speak to your parents about the need for an estate plan, it is important to try to include any siblings in the discussion to avoid giving the impression that you are trying to influence or control your parents’ choices.