You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and really, all the other accounts that allow you to name a beneficiary)? It may have been years since you first opened an individual retirement account, bought a life […]
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Enriching Life with a Third-Party Special Needs Trust
Enriching Life with a Third-Party Special Needs Trust A special needs trust (SNT) allows an individual to provide for a disabled beneficiary without jeopardizing the beneficiary’s eligibility for needs-based government benefits. SNT funds can generally be used to pay for almost anything that falls outside the basic support that programs such as Supplemental Security Income […]
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How Do You Define the Beneficiaries of Your Dynasty Trust?
Many estate plans incorporate irrevocable dynasty trusts, which can offer benefits such as tax minimization and asset protection. The benefits of these types of trusts continue for a surviving spouse’s lifetime and several future generations. The actual duration of the trust can be affected by such factors as state law and how long the money […]
Continue reading…Fall Cleanup Checklist for You and Your Clients
November is a season of transition. Days are growing darker and cooler, school is back in full swing, summer clothes are packed away, the pool is covered, and anticipation is building about the upcoming holidays. This is the perfect time to take stock of the year that was and tie up loose ends prior to […]
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Left Out of Your Parent’s Estate Plan? What You Need to Consider
Many members of the next generation are banking on a sizable inheritance as part of an unprecedented intergenerational wealth transfer occurring in the United States right now. However, research shows a growing disconnect between how much children expect to receive and how much their parents plan on leaving them. You generally have no right to […]
Continue reading…Fall Cleanup Checklist
Fall is a time of transition. Depending on where you live and your family’s traditions, the shorter days and cooler temps of autumn could signal that it is time to ditch the short sleeves in favor of long sleeves, pack away the bicycles and tune up the ski equipment, store the lawnmower and test the […]
Continue reading…We Can Be Our Own Football Team
Football is by far the most popular sport in America and has been for over five decades.1 In an age of fractured media and streaming services, football’s ability to draw a huge audience on any given Sunday (or Saturday, for college fans) makes it a defining aspect of American culture. Its influence is felt in […]
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What to Do with Grandma’s Ring: Dividing Personal Property in an Estate
If you have a beloved late grandmother, many images and memories may come to mind when you reminisce about her. You might picture her at her home or at the family vacation house during the holidays. Your memory could be a special meal that only she prepared for you or a place she took you […]
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Will My Revocable Living Trust Avoid Probate? It Depends.
If you have established a revocable living trust (which we will refer to simply as a trust), congratulations! You are on the right track in creating a comprehensive estate plan. However, you are only halfway there. Many people believe that because they took the time to create a trust, their estate will automatically avoid probate, […]
Continue reading…Your Estate Planning Team Roster Imagined as a Football Squad
November is an exciting time in the world of sports. Baseball is fresh off the World Series, the NBA and NHL seasons are starting to hit their stride, and the NFL is at the halfway point as the annual Thanksgiving slate of games approaches. Football is by far the most popular sport in America and […]
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