Control of assets, assets protection and a Special Needs Trust, are three examples of how a trust can protect your child
The Cost of Probate
The cost of probate varies depending on several factors, including: the value of the deceased person’s assets, the complexity of the estate
and the state in which the probate occurs. One way to avoid probate costs is to create an estate plan that includes a living trust.
The 3 Reasons You Need an Estate Plan
Estate plans are NOT only for the insanely wealthy. Do you have wishes for the management of your assets? Do you desire your loved ones are taken care of after you pass away? If so, you should set up an estate plan. Its cheaper and simpler than you might think. Especially when you have a knowledgeable, professional, a customer focused law team to guide you through the process.
What to Expect When your Children Inherit Money
When a minor child inherits money, the money will usually be placed into a trust or custodial account until they reach the age of majority, which is typically 18 years old in most states. The specifics of how the money is managed will depend on state law and the terms of the will or other legal document that governs the inheritance. As minors, children are not able to handle their own legal and financial affairs, so their inheritance must be taken care of for them.
What is a Miller Trust?
A Miller Trust, is also known as a Qualified Income Trust, Income Only Trust, or Income Assignment Trust. This type of trust helps individuals who need long-term care pay for their medical expenses while remaining eligible for Medicaid.
How Do You Choose The Right Business Structure?
When starting a business, choosing the right business structure is a crucial decision that can affect your taxes, liability, and management approach. There are four main types of business structures: sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Each type has its own advantages and disadvantages. Read along to find out more.
What is a Living Trust and How Does it Avoid Probate?
A living trust is a legal entity that you create and control. You can set up rules for your beneficiaries to receive any of your assets after you die. You do not have to be wealthy to set up a living trust. If you have a life insurance policy, for example, setting up a living trust can be an excellent choice for your beneficiaries.
The Top 5 Mistakes People Making When Planning Their Estate & How to Avoid Them
The biggest mistake people make is attempting to do estate planning themselves. Estate planning involves complex legal and financial issues that require expertise and experience. Attempting to do it yourself, while cheaper up front, can lead to costly mistakes and unintended consequences. To avoid this mistake, work with us to help ensure that your wishes are carried out according to your wishes and that you have an estate plan that is built to last.
What is probate?
What is probate? Probate is the legal process that occurs after a person passes away, during which their assets are distributed according to their wishes or state law if there is no will. The probate court oversees this process to ensure that the deceased person's...
The Secure Act 2.0 and how it affects your retirement plan
Recent changes to the Secure Act could have significant implications for your retirement plan. Read more so you don’t miss out on this important information