Estate planning is an important process that allows individuals to protect their assets and ensure their wishes are fulfilled after they're gone. One crucial aspect of estate planning is the use of trusts. Trusts aren’t just for the uber-wealthy; using one in your...
Estate tax avoidance and mitigation are central considerations for financial security for surviving spouses. According to a recent article from The National Law Review, “Basic Estate Tax Planning for Married Couples: Opportunities For Use Of Estate Tax Exemptions,”...
As terrific as it may be to have a family vacation home, the same reasons it’s a wonderful thing can make it one of the most complex assets to pass to future generations. Everything’s great when the parents are alive and well. Still, over time this changes, as...
Leaving property to a minor can be complex without proper planning, but estate planning offers several effective options to ensure your assets are distributed smoothly. This guide will explore how to leave property to a minor, including the pros and cons of various...
Being self-employed is no easy task. You are the owner and, in some cases, the only employee. While you may have more freedom than the average worker, many responsibilities lie on your shoulders. To properly plan for your financial future and the future of your...
As parents, we are constantly making decisions that impact the well-being and future of our children. One such decision revolves around whether or not to include our child's name on the deed to our home. This choice can have significant legal and financial...
Estate planning is crucial in ensuring the smooth transfer of your assets and property to your loved ones after you pass away. While various tools and strategies are available, a trust can offer unique advantages that make it an attractive option for many individuals....
The HIPAA Privacy Rule provides federal protections for personal health information held by covered entities and gives patients an array of rights concerning that information. 45 CFR §164.508 states the uses and disclosures of PHI that require authorization from a...
A special needs trust, or SNT, is an integral part of planning for the financial security and lifestyle of a family member with special needs. A special needs trust can allow the trust’s beneficiary to receive financial support from the family for supplemental needs...
Passing wealth to the next generation requires thoughtful planning. Whether you're transferring assets to children and grandchildren, gifting money, or reducing taxes, the process involves decisions that affect your legacy. Here’s how to avoid common mistakes while...
Beneficiary designations ensure the efficient transfer of assets after someone's passing. Assets with designated beneficiaries are automatically passed to the named beneficiary, regardless of the instructions in the original will or trust document. This means they are...
Limited liability companies, or LLCs, are used in estate planning to achieve estate tax savings and consolidate asset management, according to a recent article, “Estate Planning With Limited Liability Companies: Transfers of Business Interests as a Planning...
