A wealth transfer or estate planning strategy may include strategies that preserve assets while providing financial benefits to those who inherit them. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain… Read more »
Tag: Estate Planning Attorney/Lawyer
Understanding the Two Types of Remainder Trusts
In philanthropy, charitable giving has long been a cornerstone. People enjoy making meaningful contributions to causes that are close to their hearts. For those who wish to support charitable organizations while also benefiting from tax advantages and income streams, charitable… Read more »
After the Death of a Loved One, How to Handle Their Digital Footprint
It is common for adults to not have made a will or estate plan, let alone one that addresses their online profiles and accounts. As your online presence grows professionally and personally, taking charge of your digital assets and plans… Read more »
In the Event of the Death of a Family Member Without a Will, What Do You Do?
COVID-19 has raised awareness in the US more than ever about the importance of having a will, a living trust, or a living will. Still, this knowledge is not translating into estate planning action. No matter your age or asset… Read more »
Do-it-Yourself Estate Planning: The Perils
Do-it-yourself estate planning may seem like a cost-saving option. However, it can be costly in the end, both financially and in terms of family well-being. Estate planning involves important decisions about how your assets will be distributed after you die… Read more »
Guardianships: Protecting Your Finances and Right to Vote
All US citizens have the fundamental right to vote, but if you become a ward through a guardianship process, you may lose that right. You could also lose control of your finances to someone you don’t fully trust. By nominating… Read more »
Probate: What You Need to Know
The right estate planning can minimize or eliminate probate, but sometimes it’s necessary, despite the stigma associated with it. In reality, most heirs will have to navigate the probate process to some degree after losing a loved one. Understanding what… Read more »
What a Divorce Means for Estate Planning
Divorce can be a difficult process. It is a stressful and emotional experience. There are many factors to consider that may also change over time. For younger couples, children are likely a top concern. For older couples, a long-term home,… Read more »
A Tax on Generation-Skipping Transfers
In the US, generation-skipping transfer (GST) is the US government’s tax on transfers of property that skip a generation. Its primary design is to prevent wealthier individuals from avoiding estate and gift taxes by transferring large amounts of assets to… Read more »
Avoid These Inheritance Mistakes
Experiencing the loss of a loved one can be emotionally draining. Receiving an inheritance and dealing with the death of a loved one brings mixed emotions. The loss of a loved one is sad but the influx of funds can… Read more »