What Trusts are Available for Estate Planning?
Trusts are an essential part of most estate plans, even the plans of people with moderate wealth. You need to know the basics of trusts, especially the key terms and concepts of the most widely-used types of trusts.
Act Quickly to Protect an Estate After the Death of a Loved One
When dealing with the emotional pain of the loss of a loved one, family members also have to address daunting administrative tasks.
Do I Need to Name a Guardian for My Children in the Will?
Why naming a guardian for your child is important.
Do I Really Need a Will?
There’s much to plan for in life — college, your wedding, your first child, life insurance — and with more than enough to keep you busy, it’s easy to forget about your will. After all, no one wants to sit around and dwell on their death, but it is perhaps one of the most important decisions you will make in your life.
What Debts Must Be Paid after I Die?
If you are concerned about incurring debt after a family member’s death or are worried how your own debt will impact your family, here are some things you should know.
Happy Hanukkah!
Pope Benedict XVI Declines Inheritance from his Brother
Retired Pope Benedict XVI has declined the inheritance of his brother Georg, who died in July, reported the German Catholic news agency KNA.
What are the Responsibilities of a Trustee?
A trustee is a manager of assets in a trust. The grantor creates the trust and appoints the trustee. A trustee has a ‘fiduciary duty’ to serve the grantor and not benefit personally.
How Important Is Avoiding Probate?
Probate is a process to transfer the assets after someone dies. For example, when a homeowner passes, probate allows for the home to be sold or transferred, if necessary, even though the owner is no longer alive to sign a deed.
Incorporating Gifting with an Estate Plan
Gifting sounds pretty simple, but there are many ways to do it. There are also several tax ramifications to be aware of.