A wealth transfer or estate planning strategy may include strategies that preserve assets while providing financial benefits to those who inherit them. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain…
Think about being ill and having to determine whether or not you can afford medical care. Unfortunately, for many Americans, seeking medical care hinges on affordability rather than medical necessity. About half of US adults have gone without or delayed medical care…
There are many people who use trusts, not just the wealthy. In addition to serving many purposes, they address specific problems that are less concerned with wealth, and put the focus more on family dynamics. Do you want to keep…
Most young parents are not concerned about death or serious illness or injury. As unlikely as such a serious event is when we are young, it is a possibility. This is why we pay for medical insurance, disability insurance, and…
Online profiles and accounts aren’t addressed in most estate plans because most adults don’t have a will. As your online presence grows professionally and personally, taking charge of your digital assets and plans for them after you die becomes important.…
There has been a heightened awareness of estate planning, living wills, and perhaps living trusts in the US because of the COVID-19 pandemic. Still, this knowledge is not translating into estate planning action. No matter your age or asset level,…
With a gun trust, individuals are able to own firearms in an entirely legal way, enabling them to share access to firearms while still adhering to the law. This approach is beneficial for those who own restricted firearms or firearms…
You can ensure your loved ones are cared for after your death by creating an estate plan. It requires organization and strategy and begins with five key legal documents that can address many areas of estate planning concerns. Proper estate…
There are astronomical costs associated with nursing home care if you become seriously ill or injured. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn’t seem like a good bet if…
In estate planning, there are two kinds of trusts: irrevocable and revocable. Each has benefits and drawbacks depending on your goals. However, both trusts are legal arrangements to manage and distribute your property during your lifetime or afterward. The creator…