Being retired and having assets to pass along is fortunate. But large, unexpected medical expenses can really start to drain even the most well-managed wealth. What steps should you consider in order to prevent this from happening? In this post, we will use an FAQ...
Life doesn't stand still, either abstractly or concerning estate matters.The rule of thumb has long been that changes in your family structure trigger the need to review your estate plan to ensure that property will still be distributed according to your wishes. Such...
Planning for a pet can be overlooked in the estate planning process. Here is a question though: Do you know who would care for your dog, cat, horse or other beloved animal? Would this person have the resources to pay for associated costs of care?Too many animals end...
What is behind a teenager's sudden refusal to go to school or the unusually "silly" behavior of a pre-schooler? A diagnosis "on the spectrum" at any age often raises more questions than answers. A hoped-for future may start to look different.The statistics paint a...
Why couldn't mentally capable, but disabled individuals set up a special needs trust (SNT) for themselves in the past? A legislative oversight from over 25 years ago is the basic answer.The 21st Century Cares Act corrected the issue in December 2016. The legislation...
Life insurance plays a vital role in many estate plans. It provides salary replacement for a family if a heart attack or tragic car accident takes the life of a breadwinner. These policies may also be a part of a business or ranch/farm succession plan. Generally, life...
In our series on trust basics, we have talked about formation documents as well as the different types of trusts and their purposes. Once you have completed all the up-front work and have a trust, you must fund it. Tied in with funding a trust may be the need to...
The names of various trusts may sound like another language. Others may make you feel like you are lost in acronym soup, CRT, ILIT or a TSNT. Even the length of the trust instrument itself can vary based on your needs. One beneficiary might mean it is simple and...
Some of the misperceptions about trusts are that they are too burdensome or expensive. In many situations they provide a cost-effective vehicle to plan for the needs of a surviving spouse and smoothly transfer assets to the next generation. How do you determine...
Families have changed since the 1950s when the dream included a stay-at-home spouse and two or three children. Fast forward to 2017 and more variety exists in the shape and size of an ideal family. For more couples with a focus on dual careers, fertility issues or...
