Adult Adoption as an Estate Planning Tool

When asked to consider estate planning tools, most people will name common estate planning tools such as wills and trusts. A recent article discusses one of the lesser-utilized estate planning tools, adult adoption. Most commonly, same sex couples use adult adoption in order to secure inheritance for one another. This strategy is not necessary in… Read More »

Considering the Wisdom of Gandolfini’s Will

In the short time since actor James Gandolfini’s untimely death, the media has been in a frenzy discussing the details of his estate plan. As a recent article explains, the actor left most of his assets to his friends and family members. Gandolfini’s teenage son Michael will receive the bulk of the estate, including all… Read More »

The Etiquette of Inheritance

There are rules of etiquette for almost every life event, large or small. A recent article discusses the rules of etiquette when it comes to inheritance. Rules of etiquette apply whether you are passing down your estate, or receiving a portion of an estate from a loved one. Unfortunately, these rules are far from clear…. Read More »

Considerations When Giving Gifts

Some people are surprised to realize how much money they have saved for their retirement through a combination of IRAs, pension plans, and traditional savings. Such people have often not considered how they would like to distribute their wealth, because they did not realize their wealth would amount to much. A recent article discusses several… Read More »

Asset Protection Through a Self-Titled Trust

There are many different types of trusts that help a variety of individuals meet their financial and estate planning goals. For wealthy individuals and families who are looking to protect their assets, a self-settled spendthrift trust may be the answer. A recent article discusses how individuals and families can use self-settled spendthrift trusts in order… Read More »

What is the Purpose of Your Trust?

Trusts are not just for the very wealthy. There are many different types of trusts that would benefit people of all ages and tax brackets. A recent article discusses the purpose of various types of trusts. Life Insurance Trust: The purpose of a life insurance trust is to remove the value of a person’s life… Read More »

Learning from Jim Morrison’s Will

Jim Morrison’s will highlights one of the most common misunderstandings in estate planning, “what happens to the balance of a bequest when the beneficiary dies.” A recent article discusses how this question was answered through the singer’s will. In his will, Morrison left his entire estate to his girlfriend, Pamela Courson. The will provided that,… Read More »

How to Properly Fund Your Trust

While more and more people are setting up trusts as part of their estate plan, many people are failing to properly fund their trusts. As a result, many revocable living trusts fail. As a recent article explains, this failure leads to a person’s heirs spending unnecessary time and money for an unnecessary probate proceeding. In… Read More »

Estate Planning with a Vacation Home

When planning an estate, many people do not consider how a vacation home factors into their estate plan. A recent article discusses several estate planning concerns for people who own vacation homes. The most important consideration when planning for a vacation home is, whose name is on the title. If two spouses own a vacation… Read More »

Helping Your Heirs With Your Estate

When Krysten Crawford’s mother died unexpectedly at the age of 74, Crawford and her sisters had never spoken with their mother about her financial affairs or estate. After the mother’s death, Krysten and her sisters discovered not only that their mother still had a mortgage on her home, but that the mortgage was in default…. Read More »