As Thanksgiving approaches, many of us take this time to reflect on what we're thankful for. Gratitude for family and good health are usually on the list, but some of us may have the added blessing of an inheritance from a loved one who is no longer with us. But what do we do with [...]
If you’ve ever thought that estate planning is only for the ultra-rich or that you can wait until later in life, you’re not alone. But estate planning is important to consider at any age and is a fundamental part of a comprehensive financial plan. And it’s not just about what happens to your stuff when [...]
There’s a well-known saying: “Nothing is certain except death and taxes.” But what’s often left out is how closely those two concepts can intersect—especially when it comes to your legacy. Many people spend a lifetime building wealth to leave something meaningful behind. But without a thoughtful plan, more of that wealth could go toward taxes, [...]
Estate planning is a crucial step for retirees to ensure their assets are distributed according to their wishes and to provide clarity for their loved ones. Beyond the legal and financial aspects, it's essential to approach this process with sensitivity, acknowledging the emotional complexities involved. Here's a guide to help you navigate estate planning thoughtfully [...]
Estate planning isn’t something you do once and forget about—it’s an ongoing process that helps ensure your financial affairs are in order and your loved ones are taken care of. One of the most important documents in an estate plan is a will, but over time, things change. Life events, financial shifts, and even tax [...]
Estate planning is an important part of retirement planning for many reasons: You’ve worked hard for your money and want to see your children and grandchildren benefit. And, you want to see it passed down in the most efficient way possible. Unfortunately, costly mistakes are all too easy to make, from forgetting to name a [...]
An estate plan is like a car; it requires regular maintenance, and may need parts replaced as it ages. Some experts recommend reviewing your estate plan every three years, or after a major life event. You may need to update your estate plan to reflect the changes to the tax code, as well as life [...]
You made sure your kids wore helmets, ate their vegetables, and looked both ways before crossing the street when they were small. Why? Because you worried about their safety. Protecting your children financially is no less important. Rather than leaving them to figure out a plan for finances and medical care in the event of [...]
According to recent studies, the “great wealth transfer” will have baby boomers transferring an estimated $30 trillion to their heirs by 2050. Estate planning is defined as the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death. Whereas legacy planning is defined as a financial [...]
After you pass, your debts, just like your assets, are left to your estate. It is important that you make sure that the assets you set to leave behind do not get eliminated entirely by your debts. Understanding debt and how each kind differs is important when developing your estate plan. One of the first [...]
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