One goal of estate planning is to ensure that your assets, including your home, pass to your chosen beneficiaries quickly and with minimal expense. In real estate, a common strategy to avoid probate (the court process of validating a will and distributing assets) is to add others to the title. This strategy involves adding the […]
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Estate Planning as a Love Language: Protecting Those Who Depend on You
We all have different ways of giving and receiving love, and those preferences can reveal a great deal about us. You may be the type who expresses love with words, telling people you care about them or crafting carefully worded messages for someone when they need encouragement. Or maybe you prefer physical affection such as […]
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Beyond Assets: The Power of Ethical Wills
What do you hope to leave behind for your loved ones? Beyond the financial aspect, how do you hope your legacy will be felt and remembered? These questions lie at the heart of every estate plan and typically inform discussions about the things that someone plans to leave behind: homes, savings, heirlooms, and other types […]
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Why Receiving an Inheritance Changes Your Estate Plan
Receiving an inheritance can be a meaningful and transformative experience, but it can also create challenges if not handled thoughtfully. Without a clear plan, an inheritor may struggle to manage newly acquired assets, face creditor or tax issues, or lack the financial experience needed to preserve and grow what was left to them. A well-designed […]
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When Your Parent Plans to Disinherit Your Sibling
Your parent has made the difficult decision to omit your brother or sister from their estate plan. While this decision will undoubtedly land heavily on your sibling, the decision also places you in a complicated position. As the child who was not cut out of the estate plan, you may find yourself in an especially […]
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What Is an Inheritor’s Trust?
If you are expecting an inheritance, an estate planning tool known as a trust may prove useful, depending on your circumstances. Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance. Purpose of an Inheritor’s Trust A future beneficiary establishes an […]
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How to Get Organized to Meet with Your Estate Planning Attorney
You have decided to meet with an estate planning attorney to get your affairs in order and ensure that your loved ones are protected. Now that you have scheduled the appointment, it is time to get yourself organized and prepare for the first meeting. Before You Meet with Your Attorney Taking the time to sort […]
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Why Retirement Is the Right Time to Revisit Your Estate Plan
Retirement can mean many different things to different people. For some, it opens up a new world of travel, experiences, and creative pursuits. For others, it may herald quiet days at home with a good book, a steaming mug of tea or coffee, and no other plans for weeks. Between those extremes are countless ways […]
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Emotions the Estate Planning Process Can Bring Up and How to Address Them
People often have a ready list of reasons—or depending on how you look at it, excuses—for putting off completing their estate plan: “I just haven’t gotten around to it yet”; “I don’t own anything of value”; “It’s too complicated”; “It’s too expensive”; “My family can handle things when I’m gone”; or “I’ll wait until I’m […]
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Retirement Planning for Business Owners
Many employees save for retirement by participating in their employer’s 401(k) plan and maybe even opening an individual retirement account (IRA) or Roth IRA for additional savings. As a business owner, planning for retirement requires more effort, foresight, and strategy. In addition to navigating the wide range of retirement account options available to business owners, […]
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