Tag: Estate Planning
There are pros and cons to trusts and it is wise to know about them. Revocable trust and irrevocable trusts are excellent tools to be used in estate planning and the key is knowing when and how to use them, according to kake.com in “How an Irrevocable Life Insurance Trust (ILIT) Works“. Revocable trusts tend […]
Is it true that wealth lasts for many generations? The real root to accumulating and transferring wealth is through supporting education, helping in the purchase of a home or in getting married, according to Fast Company in “5 lies you’ve been told about generational wealth“. Here are a few commonly held misconceptions about generational wealth: […]
Plan needs to address the owner’s personal life and the future of the business. Everyone needs an estate plan but small business owners need to take an additional step and plan for what they want to see happen to their business, according to grbj.com in “Estate planning for small businesses“. Some of the steps recommended […]
Children may not have to make as many major decisions at a difficult time in their lives. Elder law estate planning can make the lives of adult children easier by setting major goals and tasks in the process, according to the Times Herald-Record in “Three ways for seniors to make things easier for their kids“. […]
A checklist can help you stay on top of preparing for those later days. You work long and hard during your life and those retirement days are finally approaching. Unfortunately, some are prepared for those days and some are not, according to CNBC in “Nearing retirement? This checklist can help you make sure you’re financially […]
Work hard, plan your retirement and don’t forget the digital world. People can behave responsibility by working with an estate planning attorney to create a will, power of attorney and health care proxy as well as other important documents to protect their heirs. However, it is important to remember it is a different world now […]
Transparency is usually the best case, so make that choice wisely. If you decide to choose a family member for power of attorney, remember to consider the possibility of a family feud, according to Considerable.com in “How to assign power of attorney without sparking a family feud“. Start by understanding exactly what is meant by […]
It is important to realize that you can name your power of attorney. A power of attorney is someone you name to act on your behalf should you become unable to handle your finances or make your own decisions. If you do not have a power of attorney, then someone will be named to act […]
A real-life problem when long-lost relatives show up. A trustee and only beneficiary of her mother’s trust explained her difficulties when her long-lost sister suddenly showed up toward the end of her mother’s life, according to the Santa Cruz Sentinel in the article “It’s never too early to disinherit children“. After disappearing for decades, her […]
You have choices, so what are your interests? There are a number of options with age-restricted communities. However, active community living is one of the growing choices, according to Next Avenue in “How to Choose a 55+ Active Adult Community“. How can you determine which is the best for you? There are small, city-based apartment […]
