An irrevocable trust is a legal arrangement that can provide peace of mind and financial security for individuals seeking to manage their assets in a purposeful and controlled manner. While its name might sound restrictive, the benefits of an irrevocable trust often...
Life can take unexpected turns at any moment. If you're unable to make decisions for yourself—whether due to illness or being away for a long time, a Power of Attorney (POA) can be essential. It gives someone you trust the legal authority to manage important financial...
Many people put off estate planning because they're unsure whether to use a Will or a Trust. Understanding the basics of Wills and Trusts is essential when deciding how your assets will be managed and distributed. Both serve important roles, but they do so in...
Have you considered what will happen to your assets if something unexpected occurs? Will your assets be distributed according to your wishes? Will the heirs fight because your wishes are not clearly stated? While these questions may be uncomfortable, developing...
Estate and Trust planning is an important yet often overlooked aspect of your overall financial plan. Proper Estate and Trust planning should synchronize with your financial plan. Failure to align these plans can lead to unintended and even catastrophic results. Here...
Even when people save aggressively for retirement, their resources may not be enough if they have unusual expenses. When older adults need long-term care later in life, the cost of their support could amount to thousands of dollars per month. Despite what people often...
Losing a parent or other close family member has a way of triggering intense disputes among those who are grieving that person's passing. The death of a parent, for example, could do serious damage to the relationships among their surviving children. If one child of...
Many people who are widowed or divorced name an adult child to be the executor of their estate. While some name all of their children, parents often think this will cause conflict. Of course, choosing one child over the others can also cause conflict and resentment if...
When someone creates an estate plan, they usually designate someone to be their executor. That’s the person who is entrusted with the duty of making sure that their final wishes are followed and their estate is properly settled. An executor has a “fiduciary duty,” or...
A diagnosis of Alzheimer’s disease or other form of dementia can be devastating and frightening for the affected patient and for their loved ones – even if the diagnosis itself is not particularly surprising. If your parent has recently been diagnosed with a...
