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In light of the pandemic, many Americans have become aware of the importance of creating or updating their estate planning documents. We realize that it may be tempting to create your documents all on your own. Whether you are considering writing your own will or using an online “do it yourself” (DIY) document creator, there […]

When planning for retirement, it’s important to consider all of your options for maximizing your savings and ensuring that your assets are distributed according to your wishes. One option to consider is a retirement trust. A retirement trust is a type of trust that is specifically designed to provide tax advantages similar to those of […]

How can you ensure that your estate plan will be administered according to your wishes? If the executor or successor trustee you have chosen is a family member or loved one, will that person be able to carry out the role of a fiduciary during a period of emotional stress or mourning? If you have […]

Estate planning is an incredibly important tool, not just for the extremely wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you […]

Have you heard of a grantor retained annuity trust (GRAT)? This type of trust is an efficient way to transfer asset appreciation to beneficiaries without using, or using a minimal amount, of your gift tax exemption. Here’s how it works: After the donor transfers property to the GRAT and until the expiration of the initial […]

Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation. To help your loved ones avoid becoming part of this statistic, it is important to educate and update your extended family about your wealth transfer goals and the […]

We recently heard 2 myths related to standalone retirement trusts that we would like to clarify. But first, what is a standalone retirement trust (or SRT)? It is a special type of trust designed to be the beneficiary of your qualified retirement accounts like IRAs, 401(k)s, and others. Since the SRT is named as the […]

Real estate can take on different forms of ownership depending upon the number of parties and the unique circumstances involved. Understanding how your real estate is owned, or “titled,” is necessary because this determines the extent of control you have over your real estate, how susceptible your property is to creditors, and what will happen […]

Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the consequences of passing away without a will or trust (which is called intestacy). If you die intestate, […]