They say that a little bit of information is a dangerous thing, and this often enters the picture when it comes to estate planning. People hear about simple approaches that sound like they would be effective on the surface, but they don’t fully understand the potential consequences. In this post, we will look at some […]
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How Can You Leave an Inheritance to a Minor
When you are planning your estate and you are leaving an inheritance to a minor, you have to designate someone to manage the assets until they reach the age of majority. There are a few different ways to proceed, and we will look at them here. Revocable Living Trust A revocable living trust is a […]
Four Estate Planning Myths Debunked
There are certain myths that circulate about aspects of the estate planning process. If you buy into them, you can make mistakes that yield unintended negative consequences. With this in mind, we will look at four these myths here to raise awareness. Your family will receive their inheritances right after you pass away if you […]
Will My Family Pay an Estate Tax?
The federal estate tax can take a heavy toll your legacy if your estate is going to be exposed because it carries a 40 percent rate. Fortunately, most people do not have to pay the tax, and we will provide the details in this post. Estate Tax Exclusion There is a federal estate tax exclusion […]
Five Things to Know About Creating a Will in Tennessee
The simple will is the most commonly used estate planning document. We are going to look at some things that you should know about wills in this post, and you may not like everything you learn about them. You can name a guardian in a will. Everyone knows that you can state your final wishes […]
Can a Person With a Disability Create a Supplemental Needs Trust?
Many people with disabilities rely on Medicaid as a much-needed source of health insurance. These folks can also receive Supplemental Security Income (SSI), and this is largely self-explanatory. These programs are only available to people that have less than $2000 in countable assets. Once eligibility for these programs has been granted, it is not necessarily […]
Attend to the Finer Estate Plan Details
Everyone knows that you have to create a will or trust to express your wishes with regard to the way you want your monetary assets to be transferred after you are gone. At the same time, there are some finer details that you should attend to as well, and we will look at three of […]
A Conversation With an Estate Planning Lawyer
Imagine settling into your seat on an airplane and greeting the person sitting next in the next seat. You start talking, and you find out that she is an estate planning lawyer that is willing to answer questions that you have about the subject. This would be an enlightening exchange, and with this in mind, […]
Debunking Myths About Trusts
People sometimes harbor misconceptions about various aspects of the estate planning process. As a result, they make decisions that are less than ideal. In some cases, their families pay the price because negative consequences can unfold. This definitely enters the picture when it comes to trusts. In this post, we will expose four myths about […]
Do You Need a Will When You Have a Living Trust?
A lot of people think that you have either a will or a trust when you put an estate plan in place, and there is some truth to this understanding. However, you should actually have a couple of different types of wills to go along with your trust. Child Guardianship The trustee of a living […]
