The relationship between spouses holds a unique significance, this is also the case in the context of estate planning. While you can generally choose to exclude certain individuals from your estate plan—such as parents, siblings, and adult children—special legal protections exist to prevent a spouse from being disinherited.
Pension and retirement accounts often form a large portion of an individual’s wealth and should be accounted for in an estate plan. The benefit and beneficiary rules applicable to different types of retirement accounts vary and should be discussed with an estate planning attorney, especially with the recent passage of the SECURE Act.
If you are a millennial, we understand that your concerns may differ from someone of a different generation, and we are here to help you craft an estate plan that protects your future and addresses the things that matter most to you. In this article, read about some important steps you need to take to ensure that you have a comprehensive estate plan.
Every day we make hundreds of decisions from what to eat for breakfast to where we go on vacation. With each passing day, there are more choices to be made. But what will happen if you can’t make decisions for yourself? Before that time comes, there is one important decision you need to make. Who do you want to serve as your guardian or conservator?
You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a combination of both—through the use of a testamentary trust—provides the right amount of control and protection for themselves and their loved ones.
Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities including limited liability companies (LLCs) and partnerships are required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). In these filings, applicable businesses must disclose important information about their entity. However, recent developments have called into question the constitutionality of these requirements.
This article explores some of the myths and FAQs related to estate planning for young adults.
For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures a seamless transition of ownership upon the potential occurrence of many different events, such as the business owner’s retirement, disability, or death.
Whether you have inherited your wealth or have built it yourself, you likely want to share this wealth with the next generation and beyond. Read this article to learn how an estate plan protects family wealth.
Before setting up a revocable living trust, you should understand what you can—and cannot—do in your dual role as trustor and trustee.
