For many families, a vacation property is more than a recreational real estate property—it’s a treasured family asset. If this describes your vacation property, you should know that you can employ several estate planning strategies to pass on your second home to the...
Trusts are some of the most powerful tools utilized by those who want to provide specific resources for their loved ones when they die. Trusts are also useful for those preparing to live on a fixed income during their retirement years. A well-planned and...
For most people, an estate plan is something that they need, but that they haven’t created yet. There are also those who mistakenly believe that they do not need an estate plan at all. This combination means that the majority of adults in the United States do not have...
Living in a nursing home is expensive. Monthly costs dwarf even the most expensive mortgage in most cases, even if someone gives up the privacy of having their own room. Older adults may have to spend what remaining assets they have covering the cost of nursing home...
Every state has unique statutes related to criminal matters, family law and civil issues. The difference in laws from state to state can lead to a lot of confusion, especially when people relocate from one state to another after becoming familiar with the laws in...
Unlike nearly two-thirds of Americans, you have an estate plan. You created a will and understood the importance of periodically updating this important document. For the latest update, you focus on a few changes, including replacing your executor. Why? You have...
Making an estate plan is a terrific first step for anyone to take. But it’s problematic to assume that this is the final step. You don’t want to make that plan and then forget about it. It’s actually important to update it periodically. But how do you know when to...
One myth that you’ll often find people repeat about estate planning is simply that they are too young. This belief sometimes causes people to put off the exact estate planning that they need to do. It can happen to people of many different ages. For example, someone...
Every state has unique laws regarding the creation of estate planning documents. Florida is a retirement destination for thousands of older adults, which requires a bit more nuance regarding estate and probate law. For example, people in many states can add no-contest...
Maybe if you have a child with special needs, so you want to start a trust to support them when they move out and after you die. Perhaps you worry that you won't qualify for Medicaid when you get older or that your children will fight over your property. Whether your...