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…
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…
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…
Estate planning for couples in a second or later marriage who have disproportionate estates can be tricky. One solution for allowing the well-to-do spouse to maintain control of their assets but keep their other half happy is the Lifetime QTIP Trust. The Basics of Creating a Lifetime QTIP Trust In the estate planning…
Perhaps you first obtained life insurance 10 or more years ago, but you haven’t updated your insurance plan (or thought about it much) since. You should consider reviewing your policies. A re-assessment has the potential to pay off significantly. The insurance industry has come to understand that we are all living longer than they originally…
You and your spouse have worked hard and saved. You’ve enjoyed the good fortune of having assets that have appreciated over time. At the same time, you’re confused about which estate planning solutions can help you preserve your assets and allow you to pass on your wealth without your having to pay exorbitant state or…
One common way 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. This is accomplished by adding the names of the children and certain legal terms to a new deed for the property and…
