Depending on your goals, you can use either revocable or irrevocable trusts in estate planning. However, both trusts are legal arrangements to manage and distribute your property during your lifetime or afterward. The creator of a trust is a grantor…
The percentage of Americans who have a will is about 33 percent, although more than 50 percent find estate planning important. caring.com Those individuals with a will may have moved to a different state or forgot to update their will…
We are living longer than previous generations, so many of us are going to need long-term care as we age. It’s estimated that seven out of ten Americans will need long-term care during their lives. Long-term care can include care…
Your assets, your wishes, and the people you love are important to protect regardless of gender identity or sexual orientation. Estate planning allows you to designate your partner, whether you are married or not, as the person who can make…
Dealing with the death of a loved one and receiving an inheritance is an emotional time. The loss of a loved one is sad but the influx of funds can bring joy or relief. It can be hard to think…
The probate process occurs after someone passes away. Probate can be lengthy, complex, and expensive, but good estate planning can mitigate unwanted risks by anticipating and preventing problems before they arise. Sound estate planning can make the probate process run…
Intestacy refers to the death of someone without a will. If this happens, a probate court oversees the distribution of the decedent’s assets. Also known as intestate succession, it has similarities to the probate process when a will is present.…
The succession and estate planning of farm and ranch real estate, livestock, and equipment present unique challenges. There is a common misconception that federal estate taxes threaten farm or ranch property, preventing assets from getting to rightful heirs. Over the…
When the time comes to plan for your future both medically and financially you may begin to wonder what estate planning and elder law are and how they compare to one another. Estate planning and elder law have some similarities…
It is common that as our parents age they will lose their ability to make informed decisions regarding their lives. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or other…