Leaving Your Estate to Non-Family Members: Everything You Need to Know
Estate planning often revolves around leaving assets to family members, but what if you want to leave your estate to someone who isn’t related to you? Many people have close friends, caretakers, or even charitable organizations that hold a special place in their hearts. In this blog post, we will explore the essential considerations and […]
What You Should Know When Leaving an Inheritance to a Child Struggling with Substance Abuse
I’ve seen firsthand how substance abuse can impact families, leaving parents heartbroken and unsure of how to protect their loved ones while preserving their legacy. In my experience, many parents want to leave an equal inheritance to all their children, but when one child is struggling with addiction, it can significantly complicate matters. In this […]
5 Things Every Young Family Should Consider For Their Estate Plan
I am married to my incredible wife and the father of two beautiful daughters. They are my world and I want to make sure they are protected should anything happen to me. I am certain that your family means the world to you as well. Here are five things every young family should consider for […]
The Dangers of DIY Planning—Especially When You Have a Child with Special Needs!
With today’s technology, access to information is literally in the palm of our hands. From your cell phone, you can download manuals to repair a washing machine that’s thirty years old or watch step-by-step video tutorials that will teach you how to do anything from knitting a sweater to playing an instrument without taking a […]
Caring for a Veteran? Check Out These Programs for Help
A recent survey counted over 18.2 million American Veterans over age 65. Many of these Veterans include those who served in World War II, the Korean War, the Vietnam War, and the Persian Gulf War. Suppose you are caring for an elderly Veteran. In that case, you should know about the benefits and services available for the […]
How to Properly Choose Beneficiaries
An essential part of estate planning is designating beneficiaries for your life insurance policy, 401(k), and other financial accounts. A beneficiary is a person who receives someone’s assets upon their death. There is no “correct choice” when choosing the beneficiaries who will inherit from you. It’s a personal decision. What must be handled “properly” however […]
Common Mistakes People Make When Setting Up a Will
Estate planning lawyers know that preparing for death is unpleasant, but it’s a crucial part of life. You deserve peace of mind knowing that your loved ones won’t struggle to make basic decisions about your burial or financial matters when you pass away. Drafting a will can remove the overwhelming responsibility from their shoulders, so […]
How to Make a Charitable Bequest with an IRA
You can donate retirement accounts, such as an IRA, by distributing the proceeds to charity. However, the tax benefits for donating this way are minimal. A tax-efficient donation strategy is to contribute your retirement fund directly to a charitable organization as part of your estate plan. Options for Donating an IRA The two primary options […]
Finding the Off Ramp for Your Business Ownership
Business plans often address marketing, growth, and product development issues. However, business owners fail to create an exit strategy, succession plan, or acquisition plan. Although you may not ready to sell your business or retire now, preparing for the future of your business is crucial. You should decide who to leave your business to when […]
Estate Planning Checklist for January
If you’ve already met with an estate planning attorney to put together your wills, trusts, powers of attorney, and other long-term plans, then congratulations! You’ve taken a really important step toward being prepared for the future and making things easier on your family and friends should you pass away or become unable to make decisions […]