As the financial climate continues to shift, it can be challenging to figure out how you can continue to make ends meet. You also want to enjoy the years after your retirement. You may hear some people talking about a reverse mortgage to support...
A spendthrift clause provides certain protections within a trust
Your concerns regarding your adult children’s inability to handle money and poor spending habits have gone on for years. It has become a major point of contention as you create your estate plan. You want to protect those assets you leave for your children,...
Estate planning checklist for the new year
New Year’s resolutions are an annual rite for many. Often these will include financial goals on being smarter about money. For many, this involves budgets and saving money, but it can also include creating or updating an estate plan. The death of any...
A-B Trusts often work better for blended families
Parents with blended families face some specific challenges when they create or update their estate plans. Since they are often older, there is a higher likelihood that one or both spouses have certain assets that explicitly need to go to one set of children,...
Can I protect current assets from future creditors?
Estate planning provides peace of mind knowing that an individual or couple can legally protect some assets from future creditors. To be sure, transferring an asset without getting something of similar value in return could lead to legal problems. In certain...
Charitable lead trusts can be a win-win
Charitable lead trusts are giving techniques that double as a wealth transfer and support of a favorite non-profit. They can be a useful mechanism after typical details like health care directives, power of attorney and a will are done. How does it work? The...
Signs that a trust is the smart estate planning option
Those looking at creating or updating their estate plan can weigh various details to determine the best approach. Solutions will depend upon the size of the estate, the needs of the family, and the goals when creating a legacy. Many will delay this process...
Age considerations for passing inheritance to children
You may have heard the saying, “Love your children equally, but treat them uniquely.” That’s good general advice, but it also applies to estate planning, especially for high-net-worth individuals. When drafting or revising your plan, structuring inheritance payments...
Thinking about setting up a trust for the kids? Avoid these pitfalls
. Trusts were once something only the wealthiest people had. Today, however, people from a range of income levels often use them to hold and distribute assets without having to go through time-consuming probate proceedings. As a parent, you may therefore be...