How Specific Devises Impact Inheritance
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article explores how specific bequests may provide unintended results.
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Are You Sure a Will Is the Only Logical Choice?
One of the most common misconceptions related to estate planning is the idea that trusts are only for the wealthy. A lot of people think that a will is the only logical choice for most of us, but this is not the case at all. Let’s look at five compelling reasons to use a trust … Read more
What Is Probate and How Can You Avoid It?
Most people have heard of “probate,” but few understand what it involves until they’re faced with it. So, what is probate? And why do so many people want to avoid it? Probate is the legal process that takes place after someone dies to transfer assets from the deceased to their heirs or beneficiaries. If the person who passed … Read more
Effective Remarriage Estate Planning With a QTIP Trust
Remarrying later in life can be a joyful new beginning, but it also brings unique challenges when it comes to your legacy. If you have children from a prior marriage and significant assets, you may wonder how to provide for your new spouse without unintentionally disinheriting your children. Effective remarriage estate planning helps you protect … Read more
These Trusts Provide Targeted Solutions
There are many tools in the estate planning toolkit, and targeted solutions can be implemented to address specific circumstances. With this in mind, let’s look at some of the trusts that can be used to respond to common challenges. Spendthrift Trust Not everyone is prepared to handle a sudden inheritance. A spendthrift trust gives you … Read more
Why Leaving Assets in Trust Protects Your Family and Their Future
It may sound surprising, but sometimes the best way to care for your loved ones is not to leave them assets outright. Leaving an inheritance directly to your children or other beneficiaries can expose them to risks you may not have considered. A carefully structured trust allows you to provide long-term benefits, protect assets, and … Read more
How to Help a Charity
There are many ways each of us can help a charity. However, some methods are better suited to specific donors, while others make more sense for other donors. The following are a few of the many ways you can help a charity thrive. As you can see, there is a wide range of options you … Read more
National Make-a-Will Month
Although many Estate Plans have a Revocable Trust as the foundation for the plan, Wills play an important role in a comprehensive Estate Plan. Alarmingly, most Americans don’t have a Will even though they know it’s important. As National Make a Will month comes to a close, let’s explore the often overlooked and neglected Estate Planning document, the Will.
Protect Your Estate Plan from Life’s Unexpected Events
Most parents want to provide for their children and grandchildren, both during their lifetime and after they are gone. Many families incorporate trusts into their estate plans to safeguard loved ones and ensure their wishes are fulfilled. However, how your trust is structured can make a significant difference in whether your goals are met — … Read more
Have an Out-of-State Vacation Home? Beware of Ancillary Probate
If you live in Texas and own a vacation home in another state, your estate plan may not be as complete as you think. Even if you already have a will, that out-of-state property could trigger an unexpected complication for your family. Without the right structure in place, they may have to go through ancillary … Read more