A common scenario in estate planning occurs when a Husband and Wife set up a joint living trust. To illustrate, assume the Husband and Wife have $4 million in combined assets, all held in the joint trust. Under the terms of the trust, upon the first spouse’s death, one-half of the property (or $2 million)
We seldom view ourselves as mortal so we do not fully plan for the unexpected. We do not consider the chaos that may be left behind in the wake of our own death. For individuals who find themselves unmarried and/or without children, this tendency not to plan is oftentimes exacerbated. Three recent news stories provide
The statistics are staggering. According to the United States Substance Abuse Services Administration, there are approximately 21.5 million Americans over the age of 12 who have an addiction to alcohol, illicit drugs, or both. 100 people die every day from drug overdoses, a number which has tripled in the past 20 years. Overdoses caused by
We are often asked by our clients whether or not it makes sense for them to make contributions to 529 plans for their children and grandchildren. We have always been a big proponent of 529 plans. However, as part of such discussions, clients also ask which states have the best 529 plan managers. Morningstar, the
When creating an estate plan, you have a wide variety of trust options to choose from to address your asset and family situations and your planning goals. While the trust or trusts within your estate plan will be unique to you and your needs, one critical question will remain the same regardless of the plan
A common will or trust alternative for an aged parent is “why don’t I just put my assets into my kid’s name.” After all, I want to “avoid probate” and I want to “make sure my children can access my assets in case I get sick.” Lots of older clients adopt this plan. However, just
A common scenario in estate planning occurs when a Husband and Wife set up a joint living trust. To illustrate, assume the Husband and Wife have $4 million in combined assets, all held in the joint trust. Under the terms of the trust, upon the first spouse’s death, one-half of the property (or $2 million)
We seldom view ourselves as mortal so we do not fully plan for the unexpected. We do not consider the chaos that may be left behind in the wake of our own death. For individuals who find themselves unmarried and/or without children, this tendency not to plan is oftentimes exacerbated. Three recent news stories provide
The statistics are staggering. According to the United States Substance Abuse Services Administration, there are approximately 21.5 million Americans over the age of 12 who have an addiction to alcohol, illicit drugs, or both. 100 people die every day from drug overdoses, a number which has tripled in the past 20 years. Overdoses caused by
We are often asked by our clients whether or not it makes sense for them to make contributions to 529 plans for their children and grandchildren. We have always been a big proponent of 529 plans. However, as part of such discussions, clients also ask which states have the best 529 plan managers. Morningstar, the
When creating an estate plan, you have a wide variety of trust options to choose from to address your asset and family situations and your planning goals. While the trust or trusts within your estate plan will be unique to you and your needs, one critical question will remain the same regardless of the plan
A common will or trust alternative for an aged parent is “why don’t I just put my assets into my kid’s name.” After all, I want to “avoid probate” and I want to “make sure my children can access my assets in case I get sick.” Lots of older clients adopt this plan. However, just