It can be difficult to put a value on a lifetime of accumulation—your money, your home, its furnishings, souvenirs from vacations and treasured gifts from your family. It’s a joy to collect these items over the years. However, too few consider what will happen to it all when they’re no longer around.
The sweeping tax overhaul enacted in 2017, known as the Tax Cuts and Jobs Act (TCJA), provided a number of income and estate tax reductions and changes.
Dealing with death is never easy and overseeing the estate can be complicated. However, staying organized can help you manage things smoothly.
Navigating the world of medical decisions, especially end-of-life care, can be challenging. The term advance directive holds immense importance in this domain. This article delves into the concept of advance care planning and the significance of advance directive forms. What Is an Advance Directive? An advance directive is a legal document expressing your wishes regarding the care you want in case you cannot make decisions for yourself. Advance directives are legal documents that ensure that health care professionals and loved ones know your preferences about medical treatment should you become incapacitated. Why Should You Make an Advance Directive? An advance…
There’s a lot to keep up with when estate planning. These tips could help, from updating beneficiaries after changing your plan to understanding will-substitute options, like transfer on death.
You’ve likely heard your friends or family—or even the bank teller, at times—counsel you to add an adult child to your bank account.
It’s a morbid yet common worry: What happens to credit card debt when you die?
Are you better off giving money to children now when you can see the results or doing it through your estate after shuffling off this mortal coil?
Putting a home into a trust has several benefits, from avoiding the lengthy probate process to providing potential tax advantages. This article discusses some of the intricacies of trusts and the importance of consulting with an experienced estate planning attorney. What Is a Trust and Why Is It Important? A trust is a legal arrangement where one person (the grantor) transfers ownership of their assets, like a house, to a trustee. The trustee holds and manages these assets on behalf of the named beneficiaries. One main benefit of putting property in a trust is to avoid probate, which can be…
Navigating the world of estate planning can be daunting, especially when it comes to understanding the intricacies of the durable power of attorney. This article delves deep into the world of durable power of attorney, its types and its significance in health care and financial matters. By the end, you’ll be equipped with the knowledge to make informed decisions about your future and the well-being of your loved ones. What Is a Durable Power of Attorney? A durable power of attorney (DPOA) is a legal document that allows you to appoint someone you trust to make decisions on your behalf…
