After a loved one dies, their money and assets must be distributed to the right people, either according to their will or state law (found in the default distribution scheme in its “intestacy” statute). While most people want the settlement process to be done as soon as possible, Continue reading
The bad news: When a deceased person’s estate (all of their money and assets) has to go through probate (the court-supervised process of distributing a deceased person’s money and assets), it can be subject to a variety of costs stemming from attorneys, executors, appraisers, accountants, Continue reading
Caution: Creditors Now Have Easy Access to Inherited IRAs
Do you have IRAs or other retirement accounts that you plan to leave to your loved ones? If so, proceed with caution. You may not have Continue reading
Trust protectors (aka Trust Advisors) have long been used in British Commonwealth countries, originating with offshore asset protection trusts. With these trusts, their role was limited mostly to overseeing the foreign trustee and to make sure the trust maker’s intent was fulfilled.
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Revocable Living, Irrevocable Life Insurance, Charitable Lead, and Grantor Retained Annuity – these are trust descriptors that are familiar to estate planning professionals. However, there are many less well-known types of trusts that clients may ask about or benefit from having. Continue reading
Estate planning is important for adults of all ages.
It is estimated that over 120 million Americans do not have proper estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. Many do not plan because of the false assumption that Continue reading