Probate vs. Non-Probate Property
Do You Know the Difference Between Probate and Non-Probate Property? Understanding the difference between probate and non-probate property is an important part of estate planning. Probate is the court process that determines how a person’s assets and property will be...
Can Joint Tenancy Take the Place of a Trust?
Comparison of a Living Trust to Joint Tenancy The entire focus of living trusts, joint tenancy, and estate planning in general, is to avoid the trouble of the court process for probate. If a person dies without an estate plan, typically assets and property left behind...
Estate Planning for Women
Estate planning is an important topic for any adult who is ready to take hold of their future, however, the issue is particularly important for American women. According to most statistics, women in the United States live an average of 7 years longer than their male...
Probate & Trust Administration: How to Split Assets
Remember the Little Things When Dividing a Loved One’s Assets After a loved one passes away, the mourning process does not end with the funeral. For most people, there are still homes to be cleaned out, insurances to be claimed, and assets to be distributed. Many...
Living Trusts for Blended Families
How Can Estate Planning Benefit Blended Families? Consider this scenario: Shortly after graduating from college, Ross and Carol get married. After having one son together, they divorce. Years later, Ross remarries and he and his new wife Rachel have a baby girl. Ross...
Living Trusts Done Right: David Bowie
How to Safeguard Your Family From a Messy Probate Court Battle Often when a celebrity passes away one of the first stories to pop up is how they died without an estate plan. When legendary artist Prince passed a few months ago, we heard how he did not have a will and...
Estate Planning Documents You Must Have
Why You Should Start Your Estate Planning Early in Life Estate planning can feel like a topic only “rich people” think about or something that only “older people” do when they are ready to retire. However, estate planning is a topic that should be broached the second...
Surviving Spouses and their Trusts
Does a Trust Have to Be Settled by a Surviving Spouse? Many people believe that when one spouse dies, nothing needs to be done to “settle” or “administer” a trust. NOT TRUE. Settling or administering a trust refers to the things that must be done when the first spouse...
Verifying Your Assets in your Trust
Regularly Check Your Trust Account's Roles It is always a good idea to take some time to review who you have identified in your estate planning documents as playing critical roles – guardians for minor children, successor trustees, executors, power of attorney agents,...
Gift Tax and Federal Law
What You Should Know About Estate Tax and Gift Tax Exemptions How did it feel falling off the “Fiscal Cliff”? Most people didn’t notice. On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012. ESTATE TAX: The estate tax and gift tax exemptions...
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