It’s a common misconception that all your efforts to create a comprehensive estate plan are focused on what happens after your death. That is very much not the case, and it’s a dangerous misconception to plan by.
Estate planning does not equate to death planning. There are several ways in which your estate...
There’s no perfect time to broach the subject of estate planning with your family. We all know that everyone passes away eventually, but many of us often want to conveniently forget that reality.
Faced with the decision between taking the initiative to start a family discussion about estate planning and putting it off...
Many people who inherit wealth or small businesses are at significant risk for essentially squandering the wealth. An Ohio University study shows that an astonishing 33 percent1 of all beneficiaries lose their entire inheritance within two years of receiving it. The ways they manage to do so are as varied as the imagination,...
Have you ever wondered what would happen to your debts if you passed away before paying them off? Will your loved ones be obligated to pay your debts or will they simply disappear? Every person’s debt landscape is different, and the best approach is to create a tailor-made estate planning strategy to make...
It’s the thick of tax season and you’ve probably been working on (or finished) your tax returns. Most of us don’t feel comfortable sharing the details of our tax returns, unless we have to, say for a mortgage. But, your estate plan, an important part of having your affairs in order, is a...
Are you concerned about any of your adult children? Estate planning can pose extra challenges for families with adult children struggling with addiction, marital issues, or irresponsibility with money. The last thing you want is for your wealth to end up having a negative impact on your child, or to see them squander...
A will or trust contest can wreak havoc on families. The conflict can result in possibly irreparable resentment and loss of familial communication. Old rivalries and disputes can resurface during the trying time that occurs after the death of a loved one, especially a parent. ...
Are you a business owner curious about the new Section 199A deduction?
Although the deduction became effective on January 1, 2018, guidance on how it would be calculated was delegated to the Internal Revenue Service (IRS) by Congress. For months, tax professionals and their clients were only able to...
Receiving a health diagnosis or learning that you need to undergo major surgery can cause substantial disruption in your day-to-day life. During this time, the last thing you may want to think about is estate planning.
Although you may have many things going through your head at the moment,...
Shocking to most people, your retirement accounts can be seized once they pass to your loved ones. During your lifetime, your retirement funds have fairly comprehensive asset protection, meaning they can’t be taken in a lawsuit. Unfortunately, as soon as retirement accounts are inherited, the protection evaporates. This means your hard earned money...
