One common way to try to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. While the best way would be to set up a revocable trust and fund the trust with the property, it can be accomplished…
Entrepreneurs often want to know what type of business entity they should set up for their companies. Limited liability companies (LLC) offer several surprising advantages, whether you’re expanding a brick and mortar retail operation or scaling an online business. Traditional corporations, also called C corporations, pay taxes on profits, while shareholders pay taxes on dividends,…
The latest news released by the Social Security Administration has not been well-received by the 65 million retirees, disabled workers and their families who rely on Social Security benefits for their day-to-day living expenses: For the third time in seven years, Social Security recipients will not see a cost of living increase to their…
When you hear the term “estate planning,” you might envision an older couple arguing over how to divide their copious assets, properties and business holdings among numerous relatives – not someone closer to your age waylaid by student debt and uncertain job prospects. All that said, now is the time to start thinking about the…
As Thanksgiving, Christmas, New Year’s and the winter holidays approach, you might be daydreaming about a skiing trip to Mammoth or a Hawaiian vacation to escape the cold. Or you might be savoring (or, perhaps, less then eagerly anticipating) the thought of reconnecting with your extended family, who’s typically scattered across the country. Whether you’re…
Now is the ideal time to start year-end tax planning. Below you will find a variety of tax-saving strategies you should consider using immediately so that you can get your 2015 tax house in order well in advance of the fast-approaching holiday season. Plan Now for a Bountiful Fall Harvest The last thing…
More than 10,000 people turn 65 in the U.S. every day according to Aging.gov (http://www.hhs.gov/aging/), a new website recently launched by the Obama administration. The goal of this website is to act as gateway for older Americans and their families, friends and caregivers to locate information about leading a healthy lifestyle, options for health care,…
In a previous post, we explored three key ideas about living trusts. Here are four more fascinating insights into how to make the most of these instruments to plan for your future. What a Living Trust Can and Can’t Do for You A living trust can prevent your estate from going through probate court, delaying…
While most Baby Boomers have wills in place, millions of soon-to-be-retired Americans haven’t yet established estate plans and made critical decisions about future care. Many also don’t appreciate the sheer diversity of planning instruments available to ensure their wishes, protect their assets and prevent fighting among beneficiaries. A living trust, for instance, provides a slate…
