Many people dismiss trusts as only needed by wealthy people. However, they actually can be used to solve many different issues. An article from The Mercury titled “Planning Ahead: How do you know when you need a trust?” examines the different reasons for using trusts. Family Members with Special Needs. If your family includes a family member with special needs, … Continue reading Does an Estate Plan Need a Trust?
Category: Taxes
What Is Included in an Estate Inventory?
The executor’s job includes gathering all of the assets, determining the value and ownership of real estate, securities, bank accounts and any other assets and filing a formal inventory with the probate court. Every state has its own rules, forms and deadline for the process, says an article from yahoo! Finance titled “What Do I Need to Do … Continue reading What Is Included in an Estate Inventory?
What You Need to Know About Inheritance
Receiving an inheritance is a mixed blessing. It usually comes after a loved one has passed, while you are grieving and trying to figure out how to navigate finances. If you have received or anticipate receiving an inheritance, an article titled “Getting an Inheritance? Here are 4 Things to Consider” from Kiplinger, has some helpful information. It takes … Continue reading What You Need to Know About Inheritance
Top Benefits of Estate Planning
Despite the hard lessons learned during the COVID pandemic, surveys repeatedly show most Americans still don’t have an estate plan in place. According to the article “Five benefits of estate planning” from The Aspen Times, a comprehensive estate plan ensures your assets are distributed according to your wishes when you die, minimizes taxes on your estate and protects … Continue reading Top Benefits of Estate Planning