You did the responsible thing when your child was born and selected a person to be their legal guardian if something were to happen to you and your spouse or partner. You talked it over with them, and they agreed. You codified everything in your estate plan. Now...
Estate Planning
3 mistakes when making an estate plan
Planning your estate may be one of the wisest decisions you can make. Not only does it decide where your assets go when you die, but it could also determine how you’re cared for if you’re in an accident or suffering from an illness. Many people who make estate plans...
Note these red flags when picking your executor
Selecting your executor is absolutely essential. That person will handle many vital responsibilities after your death. These include making sure that your assets go to the people you designated, taking care of your taxes, bills and debts and informing your bank of...
Should you make a pour-over will?
Many people choose revocable living trusts instead of a traditional will. They give more protection to the assets you own. While they will not protect them from creditors as you can with an irrevocable trust, they avoid details of the assets being disclosed to the...
What to look for in a health care proxy
A health care proxy, also sometimes known as an agent or the person named in your healthcare power of attorney, is going to make decisions for you when necessary. Using a medical power of attorney is a very common part of estate planning. You get to select the person...
Do you really need a will?
During your life, you realize that you won’t be able to take everything you own with you when you die. This can be a scary thought when your estate includes precious memories, family heirlooms and keepsakes. To help ensure that your assets go to the people you want to...
Can you execute a Lady Bird deed for your New York home?
The more valuable an asset is, the more important proper estate planning for it becomes. For those with real estate in their names, that property is probably worth more than any other single asset they own. they likely want to retain control over the property while...
Should an IRA trust be part of your estate plans?
You shouldn’t wait until your golden years to start planning for your retirement. But life has a way of interfering with the best of our plans sometimes. So it could be that you find yourself in your 50s or 60s and only having a single – but sizeable – IRA as your...
3 benefits of using a revocable living trust
A revocable living trust is one that has provisions that can be changed or amended upon the grantor’s request. You create it during your lifetime and add or remove assets so long as you have the capacity to make decisions for yourself. In the event you’re...
Approaching your parents about their estate planning needs
Many people idolize their parents. They have worked hard their entire life, raised a family and managed to keep it all together. However, age is inevitable and it catches up with us all at some point. It can be difficult to watch your parents become more dependent and...