The steps for revoking a revocable living trust are relatively simple, namely executing an official document of dissolution and the transfer of assets. A revocable trust refers to a legal entity with a financial structure that allows the person who create
Estate planning can be a tricky subject, particularly when your loved ones struggle to confront the prospect of their own mortality. This conversation does not have to be difficult when you know how to approach it the right way. One of the easiest ways to
The new year provides incredible opportunities to capitalize on the momentum of transition and looking forward to the future. Keeping your goals very specific when it relates to accomplishing financial goals and estate planning goals is necessary to en
Your will is the basic document in which you can name who you want to become guardian of your minor children and who you'd like to receive assets inside your estate. However, a will does not encompass all of the different assets in your estate and therefo
Last time we looked at planning for blended families in general terms. Now let’s discuss some specific trusts that you might want to consider. One such trust, which provides an excellent form of asset protection, is called a Qualified Terminable Intere
Planning for blended families can present unique challenges, in part because the interests of a current spouse and any mutual children often conflict with the desire to provide for one’s children from a previous marriage. For example, if all of an estate’
Deciding whether to choose a Roth IRA or a Traditional IRA is an important decision and can have major financial consequences. Both options, however, are excellent ways to save for retirement. Let’s look as some of the biggest differences between the two.
A will can help you accomplish a number of important planning goals. For instance, it allows you to control how your assets are distributed after you pass away. Without a will, your assets will be distributed according to what is known as intestate succes
Another reason a will isn’t enough is that the ownership of many assets transfers outside the will, including life insurance, annuities, retirement accounts like IRAs and 401(k)s, jointly-owned property and more. The beneficiary designations of these asse
For many families with a special needs child, a special needs trust is one of the most important components of the family's overall estate plan. A properly designed and implemented special needs trust can provide a number of important benefits. Maximize
