Many of us want to help our children or grandchildren get a good start in life, often by saving money for their education or future needs. Allan Levine had this in mind when he set up accounts for his grandchildren, Derek and Danielle, under the Uniform Transfers to Minors Act (UTMA). UTMA accounts, which vary … Read more
When someone close to you is nearing the end of their life, it can feel overwhelming. You want to do everything possible to support them, but it’s hard to watch as they struggle against a battle they won’t win. The doctors have already outlined the final chapter of their journey, and while you focus on … Read more
Hard work and perseverance have rewarded you with a life of comfort—a stark contrast to the humble beginnings you may have come from. Life is good with a loving family and a sense of financial security. Reflecting, you recall the bustling days of raising your children, wishing you could have relished those moments more. Now, … Read more
The role of an Executor, also known in some jurisdictions as a Personal Representative, encompasses a range of time-intensive and challenging tasks. Among these tasks is the critical responsibility of ascertaining the value of all assets within the deceased’s estate. This valuation serves two key purposes: it determines the estate’s tax liability to state and federal … Read more
As Americans enjoy longer lifespans, the shadow of mental incapacity looms larger, with Alzheimer’s Disease affecting over 6 million in the U.S. alone. Indeed, the National Institute on Aging reports that half of those over 85 years old are living with Alzheimer’s, though it’s just one of many conditions that can impair mental capacity. Understanding mental … Read more
In today’s increasingly litigious society, protecting your assets has never been more crucial. Everyone is susceptible to potential legal claims, whether from everyday activities, your profession, or the assets you own. A simple accident or a professional oversight can expose you to claims that threaten your financial stability. For instance, you might face liability from … Read more
Estate planning often centers on the critical question of what happens after death. However, an equally, if not more important, consideration is planning for the possibility of disability. With the increase in life expectancy and the aging population, the risk of becoming disabled through illness, injury, or simply the natural progression of age is more … Read more
Although it’s not pleasant to consider, the sad reality is that disability can happen to anyone. Let’s look at tools you want include in your incapacity plan. In fact, according to the Centers for Disease Control and Prevention, more than one in four people in the United States have some kind of disabling condition. In … Read more
A trust can be an important part of an estate plan. Trusts have valuable benefits both for you and your loved ones. Unfortunately, many people do not understand how they work. This can lead to costly mistakes that undermine your efforts to create your legacy. You don’t want trust mistakes to cost you the chance … Read more
Most Estate Planning attorneys will tell you that creating an Estate Plan helps prevent litigation after death. That statement needs a caveat. Most of the time, a properly created Estate Plan will prevent litigation. As this article demonstrates, sometimes, even with an Estate Plan, the family ends up in litigation.