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Does Your Estate Plan Protect Your Adult Beneficiaries?

Tue 30 Jul, by on Estate Planning

Does Your Estate Plan Protect Your Adult Beneficiaries?

If you think you only need to create discretionary lifetime trusts for young, troubled, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike. What Is a Discretionary Lifetime Trust? A discretionary lifetime trust is a type of irrevocable trust that you can fund while you are alive – in which …

Estate Planning for Military Families

Wed 3 Jul, by on Estate Planning

Estate Planning for Military Families

No matter the time of year, it is always a good opportunity for members of the military and their loved ones to consider setting up — or revising an existing —estate plan. Military families need to consider special estate-planning issues that others do not. This is particularly true when one or more family members are deployed overseas. Beyond this, members of the military have access to special benefits and resources. This can become complicated and, …

Do Your Parents Have an Estate Plan?

Tue 25 Jun, by on Estate Planning

Do Your Parents Have an Estate Plan?

If you find yourself in the “sandwich generation” (someone who is caring for both your children as well as your parents simultaneously), you need to know whether or not your parents have put together an estate plan. While it is still your parent’s choice to make estate planning decisions, having a plan — no matter how late in life it is created — is an absolute must. The thought of speaking with your parents about …

3 Asset Protection Tips You Can Use Now

Wed 5 Jun, by on Estate Planning

3 Asset Protection Tips You Can Use Now

A common misconception is that only wealthy families and people in high risk professions need to have an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances.  What Exactly Is Asset Protection Planning? Asset protection planning is the use of legal structures and strategies to safeguard property that creditors might snatch away, …

Loan, Gift, or Advancement: Why the Classification Matters

Wed 29 May, by on Estate Planning

Loan, Gift, or Advancement: Why the Classification Matters

While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning. Accordingly, the intent behind the transfer of the money is key when determining if it will be considered a loan, gift, or advancement. Understanding the Differences Loan If there is a mutual understanding that the money you gave to a loved …

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