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When Should I Terminate an Irrevocable Life Insurance Trust (ILIT)?

Should I terminate these trusts and just have my children as beneficiaries of my investment accounts and life insurance?

Posted on: August 18, 2021

What are the Basics of a Successful Estate Plan?

An estate plan tells your heirs and the courts how to divide up your assets, but it also helps protect your loved ones from unnecessary hassle and expense–as well as potentially months, even years, tied up in the court system settling your estate.

Posted on: August 18, 2021

Do Singles Need Estate Planning?

If you don’t have a spouse or children, you might think you don’t need to do much estate planning. However, if you have any assets, any familial connections, any interest in supporting charitable groups – not to mention a desire to control your own future – you do need to establish an estate plan.

Posted on: August 16, 2021

Who Pays the Tax on a Special Needs Trust?

The main financial vehicles of supporting disabled individuals—the special needs trust and the Achieving a Better Life Experience (ABLE) account—both come with special tax conditions that advisors need to consider.

Posted on: August 13, 2021

Does Estate Planning Vary by State?

Whether you've recently moved to Florida or are a ‘snowbird’ with Florida residency, there are important reasons to consider updating your estate plan.

Posted on: August 12, 2021

Does a Beneficiary on a Bank Account Override a Will?

Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in the account, typically, in the event of the account holder’s death.

Posted on: August 10, 2021

How Do You Survive Financially after Death of Spouse?

The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, surviving spouses typically confront financial issues, which often trigger tax-related questions and consequences.

Posted on: August 9, 2021

How Do I Stop Heirs from Foolishly Wasting Inheritance?

One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.

Posted on: August 7, 2021

Can I Set Up a Trust for an Adult Child?

Creating a will is important for all adults, but particularly those who have dependents—including adult dependents. Adding a trust to your estate plan can provide even more guidance.

Posted on: August 6, 2021

What Happens If You Inherit a House with a Mortgage?

If you have a mortgage, you might worry about what that means for your heirs and loved ones. Will they be able to keep your home, and who will be responsible for paying for it?

Posted on: August 5, 2021