The Pros and Cons of Probate

Wed 21 Nov, by on Estate Planning, Probate

The Pros and Cons of Probate

In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the property of the deceased and his/her heirs, and in a few cases it may even work to an advantage. Let’s look briefly at the pros and …

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How Estate Planning Can Help You Dream About Your Future

Tue 23 Oct, by on Estate Planning, Probate

How Estate Planning Can Help You Dream About Your Future

A dream without a plan is simply a wish. Estate planning is not just about death and taxes — it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for loved ones, help you avoid the expense and delay of probate, as well as help you save on taxes. Putting Your Dreams on …

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Basics of Beneficiary Forms and Estate Planning

Thu 18 Oct, by on Estate Planning

Basics of Beneficiary Forms and Estate Planning

In the event of your untimely death, the manner in which your beneficiaries — or those people who receive your assets from your estate — are determined is highly dependent on how your property is titled. Generally, property with title includes vehicles, boats, airplanes, real estate, bank accounts, savings bonds, life insurance policies, retirement accounts, and stock certificates. If you die without a will or a trust and haven’t used any beneficiary or transfer on …

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New Baby? Time to Create Your Estate Plan

Wed 3 Oct, by on Estate Planning

New Baby? Time to Create Your Estate Plan

Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together, it is important to understand that if you just had a baby – now is the time to meet with an estate planning attorney …

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Gift Giving the Tax-Free Way

Thu 13 Sep, by on Estate Planning

Gift Giving the Tax-Free Way

Although most people like to give gifts, no one wants to share with the IRS. Luckily, the law provides you many opportunities to give gifts to family, friends, and charities tax-free.  Some are straightforward, while others may require the help of a professional. Your Yearly Coupons Each year on January 1st, everyone receives what can be thought of as yearly coupons for tax-free gifts. There are several different ways that you can redeem those coupons: …

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