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What is the Purpose of an ILIT?

Life insurance is a sophisticated financial product, with as many variations and permutations as there are creative insurance companies (there are many) and creative insurance planners (there are even more).

Posted on: December 30, 2021

Is It Necessary to have a Medical Power of Attorney?

Selecting medical powers of attorney is an important step that aging parents should take to ensure they get the care they wan,t if they are unable to advocate for themselves.

Posted on: December 29, 2021

TOD and POD Accounts: What’s the Difference?

A TOD account allows the account holder to name a beneficiary on a non-retirement financial account to receive assets at the time of the account holder’s death, thereby (generally – i.e., when used correctly) avoiding probate.

Posted on: December 28, 2021

How Do You Gift Your House to Your Children during Your Lifetime?

There are many ways to pass property on to children, including gifting the family home to them while you are still alive, bequeathing it to the children upon your passing, or selling the residence to your heirs.

Posted on: December 28, 2021

Should I Start Estate Planning Now?

Estate planning is a key piece of a comprehensive retirement plan.

Posted on: December 24, 2021

Do Young Adults Need Estate Planning?

Highfalutin terms like “estate planning” can put off younger adults and conjure grandiose notions of excessive wealth.

Posted on: December 23, 2021

When Should a Trust Be Reviewed?

Many people are under the impression that since they have a trust, they don’t need to do anything else. That’s not true. The trust you created years ago may not be appropriate for you now.

Posted on: December 22, 2021

Who Should I Name as Trustee?

You created your revocable living trust to hold your assets. You did so because of the probate avoidance and other benefits. You may have included sophisticated tax-planning provisions in your trust.

Posted on: December 21, 2021

How Important Is an Estate Plan?

Every individual needs some form of an estate plan to protect their wishes and loved ones. Your estate consists of everything that you own (aka your assets), and although death may seem far away, it is never too soon to get your estate plan in order.

Posted on: December 20, 2021

Do Grandchildren Get Some of the Estate If Their Dad Dies before Me?

What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult children dies before the parents, who gets that contingent beneficiary’s share?

Posted on: December 16, 2021