Category Archives: Wills, Trusts & Estates
Plan Ahead: The Benefits of Starting Your Estate Plan Early
Estate planning helps protect your loved ones and assets, giving you control over your legacy. Delaying it can leave important decisions up to chance, while planning ahead ensures your wishes are honored and those you care about are provided for.
What Is the Difference Between a Will and a Living Trust?
While a will and trust are both estate planning tools used to manage how assets are distributed after death, they differ in their purpose and function. Wills and trusts both offer unique benefits and drawbacks. Below is a comparison highlighting the main differences between a will and a trust.
Important Things to Keep in Mind When Creating a Will
Creating a Will can feel daunting, but with some preparation, you can be assured that you’ve provided your loved ones with the protection they need when they need it most. When creating a Will, remember to keep the following in mind to ensure your wishes are carried out and your estate is managed efficiently.
An Estate Planning Lawyer Can Help with Financial Exploitation
Financial exploitation of the elderly continues to be a concern as seniors are increasingly becoming targets of financial abuse. Seniors are not only victimized by strangers but also by people they know, such as relatives, friends, and caregivers.
What Is a Living Will, and Do You Need One?
Even if you’re alive and well, establishing a living will is always a wise idea. Having one can you give you and your loved ones peace of mind, and will allow all of your healthcare wishes to be followed even if you are unable to communicate them.
A Will Versus a Trust: What’s the Difference
Whether you are 19 or 99, everyone should have a will or a trust to distribute their assets after death. Noone really likes to talk about dying, but proper preparation is key if you want to avoid big headaches for your loved ones down the road. According to statistics, only about 32% of Americans have a will. Here are some key differences between a will and a trust to consider before you make a final decision.
Why Establishing a Trust is More Important Than You Think
When is the last time that you have given thought to what will happen to your assets when you pass away? For many, there is a sense of comfort by having a will in place that will distribute their wealth and belongings accordingly. With constantly changing tax regulations, stock market fluctuations and more, many people now prefer to put a legal trust in place. A trust is a legal entity under which one person, the “trustee,” holds legal title to property for the benefit of others (the beneficiaries). The trustee must follow the rules provided in the trust instrument. The…
Revocable and Irrevocable Trusts – What Are the Differences?
Many people have questions pertaining to the differences between revocable and irrevocable trusts. This post summarizes their contrasts.
How Often Should I Update My Estate Plan?
It is important to review your estate plan every few years, particularly when things change in your life. Some life events to consider updating your estate plan include:
Protecting the Elderly from Financial Exploitation with Estate Planning
Elder financial exploitation is a growing concern as seniors are increasingly becoming targets of financial abuse. Seniors can be targeted by strangers but they can also be victimized by people they know, including relatives, friends, and caregivers. Financial elder abuse often includes one or more of the following:
