Can Your Former Spouse Still Inherit Money?

There are some situations in which your former spouse might inherit assets from your estate if you’re not careful with your estate planning strategy. The major concern in this area is to consider updating your beneficiaries on your retirement plan. This often-forgotten document is very important after you get divorced because failing to update it… Read More »

Understanding No Contest Clauses

Are you worried about your loved ones fighting over your assets and your estate? Depending on your family dynamics, this might be a serious concern. A no contest clause is a provision in your trust, will, or estate plan that can specifically impose a penalty if someone attempts to challenge the validity of your document…. Read More »

Asset Liquidity Influencers Executor Choices

Different types of assets can and should get different treatment within your estate. You might assume that leaving equally valued assets to your loved ones is in their best interests, but some assets are more liquid than others. You might leave behind a family vacation home to a child who cherishes it but if it… Read More »

Three Simple Steps to Basic Estate Planning

Most people undertake the goal of creating an estate plan to make things easier for their loved ones. Elderly parents don’t want their children to be burdened with the frustration of long term care support or the expense necessary to provide the same in a facility. There are three basic estate planning steps that should… Read More »

Estate Planning Is Tax Planning, Too

When a transfer of wealth occurs when one person passes away, this means that assets are passed from one person to another, generating possible tax consequences. Taxes are inevitable, and any good estate plan created by an experienced attorney should look for ways to minimize this liability. There are a few different kinds of assessments… Read More »

Six Important Transitions for Business Owners

Business succession planning is an important process to engage in when creating your own company. This is because in the future, you will need to have plans in place to pass the business along. The support of an experienced business succession planning attorney in your area can support you with this process and empower you… Read More »

Did You Forget to Name a Contingent Beneficiary?

One of the most important aspects of the estate planning process is naming beneficiaries across all necessary accounts. This includes retirement accounts and life insurance policies most specifically. It is important not only to name a primary beneficiary, such as the person that you intend to receive all of the assets when you pass away,… Read More »

What Are the Three Phases of a Retirement Planning Strategy?

Approaching retirement requires thinking holistically about your individual financial goals and the strategies you’ll use not just to support yourself financially but to establish your legacy in your estate plan. Anyone who neglects one or both aspects of this retirement planning equation could find themselves facing challenges personally or setting their loved ones up for… Read More »