Establishing a Pet Trust
Pet trusts allow you to provide for them after you pass away or are unable to take care of their needs, regardless of whether you own a horse, dog, cat, parrot, or even an exotic pet like a snake or…
Medicaid and Inheritances: Plan in Advance
When it comes to inheritances and Medicaid, mistakes can be made, and those mistakes can be costly. When a person is drawing Medicaid benefits and inherits money or property, that inheritance jeopardizes the benefits. The inheritance must be handled carefully…
Advice on Preparing an Estate Plan For a Blended Family
Inheritance distributions in blended families can be inequitable resulting in hurt feelings and possibly lengthy court battles. While you cannot legislate from the grave, you can carefully prepare your estate plan, distinctly accounting for biological and stepchildren to minimize the…
Tips for Entrepreneurs on Estate Planning
Entrepreneurs have several important characteristics in common such as motivation, creativity, persuasiveness, risk tolerance, versatility, vision, innovation, communication and collaboration, flexibility, and decisiveness. These individuals create new businesses bearing most of the risks and reaping most of the rewards if…
The Probate Process and Outstanding Debts
Probate can be avoided if you have the right strategy in place, saving you money in taxes, avoiding public proceedings, and the requirement for court approval. It can save you time, frustration, and in many cases, significant attorney and court…
The Five Common Mistakes Made in Estate Planning
During your lifetime, you spend the first part trying to attain financial security and the second part working to maintain it. This adage is why many people spend substantial time and effort maximizing their legacy goals in their estate plan,…
The Effects of the Build Back Better Act on Estate Planning
The House Ways and Means Committee approved President Biden’s Build Back Better Act’s (BBBA) tax provisions, a major step towards passage of the bill. As the draft now stands, the legislative proposal may restrict the abilities of higher net worth…
Estate Planning for the LGBTQIA+ Community
To protect our loved ones and our assets, estate planning is important to any individual regardless of orientation. In the LGBTQIA+ community, estate planning can legally protect against discrimination even if others are reluctant to recognize your relationship and your…
How to Incorporate Cryptocurrency Into Your Estate Plan
Cryptocurrency is a digital asset and as such needs to be addressed differently than traditional estate planning assets. Crypto-assets may comprise significant individual wealth in the forms of cryptocurrencies like Bitcoin and noncurrency blockchain tokens. If you own any of…
A Guide for Understanding Advanced Care Directives
Imagining the likelihood of a deadly illness or injury is not something people like to think about. Because of this, we rarely think about how to protect ourselves and our loved ones if the worst were to happen. However, just…