Month: January 2019

January 2, 2019

Wills vs. Trusts: A Quick & Simple Reference Guide

Let’s keep up the momentum! Have you ever been confused about the differences between wills and trusts?  If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide:

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January 4, 2019

Estate Planning: Why Me, Why Now, and Is a Will Enough?

Consider these common misconceptions about estate planning!

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January 5, 2019

Why is My Probate Case Taking Forever?!

When a loved one dies, their estate must be settled. While most people want the settlement process to be done ASAP, probate can take anywhere from 18 and 24 months. This time delay can cause a great deal of stress and frustration. Here are the 5 most common reasons probate takes so long:

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January 7, 2019

Do You Really Need A Will?

Do I REALLY need a Will? You may not think you need a Will, but you really do! And here is why…

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January 9, 2019

Do you really need a trust?

Although many people equate “estate planning” with having a will, there are many advantages to having a trust rather than a will as the centerpiece of your estate plan. While there are other estate planning tools (such as joint tenancy, transfer on death, beneficiary designations, to name a few), only a trust provides comprehensive management of your property in the event you can’t make financial decisions for yourself (commonly called legal incapacity) or after your death. 

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January 11, 2019

The Pros and Cons of Probate

In this post we take a closer look at probate administration. In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. Let’s take a brief look…

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January 14, 2019

The Perils of Joint Property

People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. Joint property is perceived to be easy to setup since it can be done at the bank when opening an account or title company when buying real estate.

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Estate Planning For the Newly Married
January 16, 2019

Estate Planning For the Newly Married

Today we will be focusing on newly married individuals. If this is you then now is the perfect time to start working on an estate plan! As newlyweds, you may not have a list of your accounts, but you’ve effectively just done a working inventory of your possessions—as you’ve figured out how to consolidate two households into one. You’ve already been working on the new banking and shared responsibility of bills and taxes and so forth.

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January 18, 2019

Which life events that require an immediate estate plan update?

Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must also name someone who will make medical and financial decisions for you if you cannot make decisions for yourself.  You also need to consider how to leave your property and assets while considering your family’s circumstances and needs.

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January 21, 2019

Why Joint Tenancy Should Not Be the Go-To Plan for Newlyweds

If you are recently married or have been married and are acquiring additional assets, know that you have options when it comes to how the property will be titled. And, although joint tenancy seems like an easy and convenient choice, it may not work as well as you would think. 

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