The term homestead may seem like a throwback to pioneer days, but homestead exemption laws are directly relevant to today’s estate planning and can play a valuable role in a modern plan.
Almost every state has some form of homestead exemption law primarily focused on reducing property taxes and...
You found the love of your life, and as you have built your life together, you have likely weathered your fair share of storms and grown stronger because of them. Now that you are married, you are uniquely situated to provide meaningful support for your spouse after your passing through special estate...
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate....
The relationship between spouses is special in all contexts, not the least of which is the estate planning context. In many instances, you can exclude people from your estate plan, including your parents, siblings, and adult children. But there are special protections built into the law that may help protect a spouse...
Married couples love each other and want the best for each other. Establishing a comprehensive estate plan is one way to provide the best for each other. Not only does an estate plan protect you when you are unable to care for yourself during your lifetime, but it also protects your hard-earned...
Careful, trust-based estate planning is the best way to ensure the highest quality of life for you and your loved ones. But, a well-crafted estate plan consists of many parts. Couples with highly appreciated accounts or property (something that is worth more now than when it was originally purchased or acquired) may...
Many married couples share almost everything, including finances. This may be reflected in their estate plan by using one joint living trust instead of two separate trusts. Separate trusts can provide greater flexibility, but a joint trust can be structured so that when one spouse passes away, the trust is split into...
When it comes to your family’s legacy, every dollar you can save from taxation counts. One way to keep your accounts and property out of the hands of the Internal Revenue Service (IRS) is to form a community property trust.
How Does a Community Property Trust Work?
When it comes to your family’s legacy, every dollar you can save from tax collection counts. One way to keep your assets out of the hands of the IRS is the formation of community property trusts.
How does a community property trust (CPT) work?
CPTs save you money on taxes...
A well-crafted estate plan is comprised of many individual parts, and careful, trust-based estate planning is the best way to ensure the highest possible quality of life for you and your loved ones.
One way couples can make get the most mileage out of their estate plans is through community property trusts....
