It is important to parents and grandparents who are engaged in estate planning to consider the various challenges that can arise. Failure to properly take these issues into consideration can result in estate plans being jeopardized. Fortunately, in these situations, it is possible to decant a trust. This article explores…
Articles Posted in Asset Protection
Healthy Vision: Taking Care of Your Eyes as You Age
The Roman statesman, Marcus Tullius Cicero once said, “the eyes are the window to the soul.” In reality however, the eyes are the window to hidden health conditions. A dilated eye exam can detect diabetes, hypertension, auto-immune disorders, like Lupus, high cholesterol, thyroid disease, certain cancers, like skin cancer, and…
The Difference between Roth and Traditional IRAs
After learning about IRAs, one of the most common questions that people ask is what is the difference between the various types. As a result, this article reviews some of the primary differences between Roth and traditional IRAs. The Primary Difference between the Two Types of IRAs With traditional IRA…
Why Estate Planning is Critical Even If You Don’t Have Children
Estate planning involves a number of personal decisions. The best estate plans are personalized to the individual that writes them. This is why online, one size fits it all estate planning documents are often not the best idea. This is also why some people struggle to complete their estate planning…
People with Few Assets May Still Benefit From a Trust
It is never easy to estate plan. For one, estate planning involves uncomfortable decisions about how your assets will be divided following your death. Estate planning, however, is critical because it avoids a number of serious obstacles including family disputes, additional taxes, and the probate process. Despite the potential to…
Tips on Picking a Personal Representative
A personal representative named in a Last Testament is allowed to be an out of state resident only if that individual is a blood relative or a relative through an existing marriage. If a representative does not satisfy this criteria, a person is still able to use an alternative to estate…
The Advantages Asset Protection Trusts in New York
One of the most common myths that exists about trust asset protection is that it is something that only the very wealthy need to worry about. In reality, many different types of individuals should consider using trusts to protect a person’s assets. Asset protection trusts are one of the best…
Popular Estate Planning Strategies That Can Lower Your Taxes
Tax preparation is one of the most important considerations when creating an estate plan. Whenever a person or business creates an estate plan, there are multiple types of taxes to avoid – inheritance taxes, estate taxes, and income taxes, to name a few. Without a proper estate plan, these taxes…
The Basics: Alternatives to Litigation Over an Estate
Although passing an estate through probate can be an unnecessarily long and expensive process, it is usually an administrative task through which heirs receive their inheritance as the deceased saw fit to award. However, family dynamics can complicate the expediency at which executors are able to pass some estates through…
Aging in Place Through Continuing Care Retirement Communities
Entering into a nursing home or other residential skilled care facility can be hard enough on a beloved older family member without having to worry about having to leave that facility and moved into another one. Unfortunately, this is a reality all too many seniors face these days as nursing…