When you have a child with special needs, estate planning requires special consideration. You'll need to assess how your child will be able to function in the world as they age. There are many questions to answer, including: What is…
To ensure a comfortable retirement, it's essential to reconsider your financial retirement portfolio. While you might have accumulated a substantial nest egg in a 401(k) plan, withdrawing money from it comes with significant tax planning considerations. In the early stages…
Estate planning is a vital process that encompasses the distribution of money and property after the passing of a loved one. Though many people are familiar with wills as a means of distributing assets, trusts can be even more effective.…
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…
As the executor or personal representative of someone else's estate, you have been chosen by them because they deem you trustworthy to handle their assets and affairs after death. Even though the decedent nominated you to be their executor, you…
There is an increase in the number of adults who need extra daily care as baby boomers retire and age. Many of these adults want to remain in their homes as long as possible. The number of home health aides…
Generally, a fiduciary is an individual, professional, or organization legally required to act in the best interest of the person appointing them. Carrying out the terms of a will or trust or making medical or financial decisions on behalf of…
Considering your future finances and health care needs, you may wonder what estate planning and elder law entail. Estate planning and elder law also have some similarities. Even though these two types of law are for different stages in life, they…
Generally speaking, most of us are familiar with trusts, in terms of individuals who are beneficiaries of trust funds. There is a misconception that trusts are just for the wealthy, but you can include them in estate planning for anyone…
A limited liability company (LLC) sits between a partnership and a corporation. In addition to accounting benefits, an LLC is also a powerful estate planning tool for the same reasons. As part of estate planning, a Family LLC makes it…