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Category: Estate Planning

Four More Common Estate Planning Mistakes

Posted on November 4, 2020 | by Tom
Here are four more common mistakes in estate planning. If your plan is in place and current, this will serve as more validation that you are on the right track. Feel free to share this information with friends and family members, especially those who may not have a plan in place.

1. Continue reading →
Posted in Estate Planning

Estate Planning for Second Marriages

Posted on September 2, 2020 | by Tom

In first marriages, the couple generally has the same goals when it comes to their estate planning: take care of the surviving spouse for as long as he or she lives, then whatever is left will go to the children. They may own many of their assets jointly and, at the death of the first Continue reading →

Posted in Estate Planning

5 Common Estate Planning Mistakes to Avoid

Posted on July 24, 2020 | by Tom

From time to time, it’s good to review why having a complete, up-to-date estate plan is so important. In addition to confirming our own actions, it can provide us with valuable information to pass along to friends and family who, for whatever reasons, have yet to act. So, here are Continue reading →

Posted in Estate Planning

What and When Should You Tell Your Children About Their Inheritance?

Posted on June 22, 2020 | by Tom

Not many parents like to talk to their children about their wealth. How much money people have is usually considered a private matter, something it’s not polite to talk about. But not talking to children about how much they may inherit can leave them unprepared to handle even a modest Continue reading →

Posted in Estate Planning

What and When Should You Tell Your Children About Their Inheritance?

Posted on June 22, 2020 | by Tom
Not many parents like to talk to their children about their wealth. How much money people have is usually considered a private matter, something it’s not polite to talk about. But not talking to children about how much they may inherit can leave them unprepared to handle even a modest Continue reading →
Posted in Estate Planning | Tagged Children

How to Choose a Trustee

Posted on May 22, 2020 | by Tom

When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs – collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your loved ones, keep accurate records, and generally Continue reading →

Posted in Estate Planning | Tagged Living Trust, Trust, Trustee

The Value of Having “a Plan” in Your Estate Plan

Posted on April 24, 2020 | by Tom

All too often, estate planning is viewed as a transaction: a will, a living trust, powers of attorney, etc. But the best planning happens when the professional can get to know the client on a deeper level, to uncover hopes, dreams and aspirations. It becomes more about family and Continue reading →

Posted in Estate Planning

The Most Important Love Letters You’ll Ever Write?

Posted on January 9, 2020 | by Tom

Many Americans have the misperception that estate planning is simply preparing for one’s death and is only necessary for the affluent. To the contrary, estate planning is as much about passing values to loved ones as it is about passing material possessions.

Thus it should come as Continue reading →

Posted in Estate Planning

Potential Problems with Beneficiary Designations

Posted on December 9, 2019 | by Tom

Many people use beneficiary designations, and for good reason. Some significant assets, including life insurance policies, IRAs, retirement plans and even bank accounts, allow a beneficiary to be named. It’s free, it’s easy, and, when the owner dies, these assets are designed to be Continue reading →

Posted in Estate Planning | Tagged Estate Tax

Why Does a Living Trust Cost More than a Will?

Posted on November 8, 2019 | by Tom

It will probably cost more initially to set up a well-drafted living trust than to have a will prepared. A true cost comparison should include not only the expense to establish the will or trust, but also what it will cost should you become incapacitated and after you die.
Continue reading →

Posted in Estate Planning | Tagged Living Trust, Trust

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