Wills, Trusts, and Deeds: What Are My Basic Estate Planning Options?
We get this question all the time. The topic of estate planning comes up, someone lets out an exasperated sigh and says, “I don’t care about all that complicated stuff. I wish someone would just explain the basic options to me.” Okay– let’s do that! Whether you’re planning for your family’s future or ensuring that […]
Before You Travel the Globe: 8 Tips to Ensure Your Affairs Are in Order
Whether you travel internationally for work or you’re planning a globe-trotting adventure, there’s something important you should do before boarding that plane or cruise ship: finish your estate plan. No one wants to think about the possibility of something going wrong on an overseas trip – and it probably won’t! – but there are a […]
How to Use Estate Planning to Teach Your Adult Children Financial Responsibility
While schools today seem to be a bit better at teaching kids the basic financial skills that are important to navigating adult life (how to create and follow a budget, what in the world APR is, why you generally want to avoid payday loan places), there’s still a long way to go. And if you […]
When You Don’t Plan, It’s Your Loved Ones Who Will Suffer
We’ve talked endlessly about the numerous problems that can result from procrastinating on your estate plan. If the worst happens, you won’t have control over what you leave behind or who it goes to. Responsibilities that are often frustrating, exhausting, and painful will fall to a surviving, grieving family member – possibly upon you, if […]
Enjoying Every Moment: How Estate Planning Can Enhance Your Retirement Experience
Unless I win the lottery tomorrow, I’m not particularly close to retirement. I’m not putting much thought into how I’ll be spending my Golden Years, considering long cruises in the Caribbean, or contemplating a move to the Villages or Sun City anytime soon. I normally wouldn’t be thinking about Alzheimer’s, dementia care, or the effects […]
What are GRATs?
This is another interesting and unusual trust type for you – the GRAT! Grantor Retained Annuity Trusts provide a fantastic example of the flexibility of trusts as estate and legacy planning tools. Although the Revocable Living Trust (RLT) is still the most common trust in the context of estate and legacy planning, GRATs demonstrate […]
Have you heard of a “rabbi” trust?
Did somebody say “rabbit” trust? Let’s talk about an interesting type of trust – the “rabbi” trust. Named for their originator, a rabbi and his congregation, these trusts are occasionally used by employers to provide key employees with compensation in an irrevocable package. In essence, rabbi trusts are a type of irrevocable trust. […]
Quick Guide to Probate
What is probate? Why does it matter in estate and legacy planning? Could you use a quick guide to probate in an easy-to-follow video primer? This short video explains the basic steps in a Texas probate. At its most fundamental level, probate is the process of determining who will carry out your wishes, what you […]