A will is important for people of all ages and financial status, but it is often overlooked because it is a difficult topic to think about or people assume it doesn’t apply to them. A recent study finds that only two thirds of individuals above age 70 have a will. This represents a significant difference… Read More »
Studies show that many people put off the process of estate planning. This can occur for numerous reasons, such as assuming that estate planning isn’t for you. A total of 63% of people making over $80,000 a year say that procrastination is their primary reason for putting off estate planning. But one out of five… Read More »
A 2022 study published in the Journal of Marriage and Family identified that the rate for first-time marriages for people aged 40 and above has increased by 75% for women and 45% for men. Having money conversations is important for any couple on the brink of combining their finances, having children, or getting married, but… Read More »
Studies indicate shifting priorities for the American public, which may mean putting off financial and estate plans due to the perception that they don’t apply to people at this current point in time. As people put off things like buying a home, getting married, or having children, it’s easy to overlook the need for an… Read More »
As retirement gets closer, or even as you have questions about when the most appropriate time is to retire, it’s helpful to build a team of expert professionals around you to assist in answering these questions. It can be overwhelming to navigate this process entirely on your own, and you can easily overlook aspects that… Read More »
Many tools are available for the purpose of estate planning, and each of them have their pros and cons. It is important to work with an estate planning attorney to craft a comprehensive and aligned estate plan for your needs. Failure to do so could mean numerous mistakes either through your life or after you… Read More »
When you create a will or general estate plan, you may hear several different terms used to describe key people. For example: A personal representative or executor is the person who will handle your estate administration, from submitting your will to probate all the way through distributing your assets at the end. Your beneficiaries, or… Read More »
Research from the U.S. Bureau of the Census shows that approximately 90% of businesses across the nation are family controlled or family owned. Many of these businesses provide important services and products to people all over the country and could have a long and healthy future with the right planning. More than half of gross… Read More »
A do-it-yourself will seems tempting. After all, it could be an easy way to outline your estate planning intentions and to ensure that your loved ones get what you intend for them. However, do-it-yourself wills may have numerous problems embedded in them, such as the fact that template forms may not consider unique aspects… Read More »
No one wants to think about the possibility of being unable to make decisions for themselves, but unfortunately, this is a reality for a growing number of Americans. Research from the Alzheimer’s Association shows that more than 6.7 million Americans aged 65 and above suffer from Alzheimer’s disease. For those in the advanced stages,… Read More »
How does Social Security factor into your own retirement and estate plan? Waiting to decide on the perfect age to select social security benefits can have significant impacts on your income during your retirement years, as well as which assets you direct towards loved ones when you pass away. A recent research study… Read More »
The more assets you own, the more important it is to make sure that you put a comprehensive estate plan in place for those needs. Failing to consider all various aspects of your estate, including foreign assets, could lead to problems down the road. Hiring an estate planning attorney to address both simple and… Read More »
If you decide purposefully not to include people in your estate plan, it can be challenging to decide the best way to structure this and what you should communicate to loved ones about these choices, if anything. Many people may not recognize the prominence of family member estrangement in our society. One study… Read More »
In some situations, state laws may automatically allow a spouse to receive certain information for you, however, unmarried couples have an additional layer of complication associated with their estate plan. For example, what happens if you are in an accident or are diagnosed with an illness in which you are unable to handle… Read More »
If you have multiple possible assets that you could use throughout your own retirement, as well as to pass on to heirs or charitable organizations after you pass away, it’s common to wonder about the best way to structure these and to determine your next steps and options. Passing on assets means thinking carefully… Read More »
A majority of Americans may feel confident in numerous aspects of their life, but a recent Northwestern Mutual study shows that only a little more than half feel confident about the current state of their finances. If you’re not feeling confident about your own planning future, you can take an important step forward by looking at… Read More »
Do you have a plan for who will get your vehicle if something happens to you? In California, someone who is eligible to take over the title of your vehicle may have to jump through some hoops to get it. It’s smart to think about how you can take some steps now to make asset… Read More »
There are many ways to pass on property to people outside of probate, but it is important to educate yourself about when it makes the most sense to use things such as transfer on death deeds. Here are five important things to keep in mind about using these as part of your estate plan: The… Read More »
Heirlooms may have substantial value for you or your loved ones, but it is important to consider having conversations around these items and structuring clear estate plan intentions for their future, otherwise your loved ones may end up arguing in court over an item that has far less value than what ends up being spent… Read More »
Life circumstances change, and you may need to update your will to reflect that, too. Knowing what procedure to follow can ensure that your wishes are followed properly when you pass away. On the other side of that coin, mistakes made when trying to update your will may mean that the court uses the… Read More »
