It is important to make a living will to ensure you are respected in your future medical decisions and plans. Living wills are legal documents defining your healthcare and end-of-life care preferences. Everyone should have an advance directive, as end-of-life…
To protect wealth and minimize tax burdens for beneficiaries, people seek estate planning strategies that are effective and efficient. One valuable tool in this area is the qualified personal residence trust (QPRT). This specialized trust enables individuals to transfer their…
Talk to your parents about their finances as they age. To start the conversation, mention events like the Coronavirus pandemic, the impact it has on economic conditions, and how it is related to their financial security. The conversation should come…
Planning and time are essential to establishing lasting generational wealth. Without specific plans to create and transfer your legacy, statistically, 70 percent of wealthy families will lose that wealth in the subsequent generation, and 90 percent will lose it in…
Using a gun trust, individuals can own firearms in an individualized manner, allowing them to share firearm access with others while remaining in compliance with the law. This approach is beneficial for those who own restricted firearms or firearms regulated…
Your pet likely holds a special place in your heart as it gives you so much joy and comfort. Since you love them, you give them the best life you can. But what if you were suddenly unable to care…
The idea that you'll save money by creating your estate plan on your own may seem appealing. However, it can be costly in the end, both financially and in terms of family well-being. Estate planning involves important decisions about how…
In 2006, the Pension Protection Act was the last significant change in retirement legislation until the Setting Every Community Up for Retirement Enhancement Act (SECURE) of 2019. The impact of the SECURE Act on some retirees, near-retirees, and their future…
In most cases, discussing the end of one's life is uncomfortable. Avoiding the subject is easier. Since we don’t want to talk about it, many of us don’t make plans for what we want to happen before or after we…
You can ensure your loved ones are taken care of after your death by creating an estate plan that distributes assets according to your wishes. It requires organization and strategy and begins with five key legal documents that can address…