What is a Discretionary Trust?
Wed 8 May, by FritzLaw on Estate Planning
Sometimes giving assets outright to a beneficiary – such a child, a grandchild or a special needs loved one – is not the ideal method of distributing assets in an estate plan. In such a scenario, a discretionary trust can be a good estate planning tool. Below is some basic information on discretionary trusts and how they may be beneficial to your particular family’s needs. Discretionary Trusts Explained A discretionary trust is a type of …
Estate Planning for Rental Property Owners
Wed 8 May, by FritzLaw on Estate Planning
In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers alike. If you have a home or other rental property that is generating income, you should understand the following asset protection and estate planning considerations. Protecting Owners from Liability Just like any rental relationship, there is risk for the property owner. If anyone is …
How to Make Your Inheritance Last
Mon 22 Apr, by FritzLaw on Estate Planning
A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within two years of getting their money, and of those who receive $100,000 or more, nearly one in five spend, donate or simply lose it all. If you are about to receive an inheritance, there are several steps you can take to insure your funds will last longer than a few years. Don’t …
Estate Planning Basics for Newlyweds
Mon 8 Apr, by FritzLaw on Estate Planning
It’s that time of year – the time for beautiful weddings, fun receptions, delicious cakes, special gifts, and romantic honeymoons. While this is a joyous time for everyone, it’s also time for you and your new spouse to plan for your future – for richer or for poorer, in sickness and in health. Why Newlyweds Need to Plan Their Estates Why should newlyweds care about estate planning? Because everyone – young or old, married or …
Stress Test Your Estate Plan
Fri 5 Apr, by FritzLaw on Estate Planning
So you have done the hard work of establishing an estate plan. Good for you! However, you still have serious work to do to ensure that the strategy you have selected will maximize your peace of mind and protect your legacy. Estate plans should be like living, breathing creations that reflect the changes in your life. Your life can and will change due to new births, children getting older, and other shifts in the family; …