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Posts Tagged ' estate planning'

We are pleased to present below all posts tagged with ' estate planning'. If you still can't find what you are looking for, try using the search box.

Top 5 Reasons A Trust Is A Good Idea For Married Couples

For married couples creating an estate plan, a trust may be a better option than a will. Trusts offer protection of assets during the couple’s lifetime as well as after the death of one of both spouses. Many kinds of trusts offer many kinds of protection. Why should married couples consider a trust?

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5 Reasons Why Families With Any-Age Children Should Have A Trust

If you or your spouse dies, when it comes to providing for surviving children, sometimes a will is not enough to protect their inheritances. This is where a trust comes in. Trusts are not just for the wealthy. A trust is a legal entity that can own property and assets. Through the instructions you write into the trust, it can buy, sell, negotiate, manage, and disburse its assets for the benefit of your children. It gives you a lot of control after you pass away.

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Probates: The Basics

Although probate may be considered a “necessary evil,” having a Court’s supervision (even limited) over the distribution of the estate can help resolve or avoid potential conflicts.

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BLENDED FAMILY? ESTATE PLANNING: What's the right mix for a blended family?

There are all types of blended families. Generally, a blended family is defined as a family that is formed when adults join in a new relationship and both parties have children from previous relationships. My sister-in-law is an example of another type of blended family. She and her new husband both had children from previous marriages; in addition, her new husband was parenting his step-daughter who lived with him after her mom passed away. I have another friend who is raising her grandchild as her own. The trials and tribulations of these families have been celebrated in TV shows and movies such as Yours, Mine and Ours, Cheaper By The Dozen, Modern Family, The Brady Bunch, The Blind Spot and even Cinderella. Cinderella is a great example of the challenges that happen without estate planning. It may have ended happily ever after, but there were a lot of problems before “ever after.”

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College Bound? Don’t Forget to Pack a Power of Attorney

This blog article is for all the young adults leaving for school this fall. Congratulations! It is an exciting time for you! However, there are a couple of things that are likely not on your packing list, but that you should include in your bags before you leave home. Parents, you may want to read this, too!

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New Parents? It’s Time for a Will.

If you are a new parent or an expecting parent, it’s time to create a Will and start working on your estate plan. Having a Will in place can give your children protection should something happen to you and your spouse. Estate planning can ensure that your property and money, and more importantly, your children are taken care of according to your wishes. Even after you are gone, a Will is a way to make sure that your wishes are carried out legally and efficiently, ensuring that your loved ones are provided for with the least of financial responsibility.

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How Often Should I Update My Will or Trust?

Estate planning is one of those tasks that people generally avoid. It takes some mental fortitude to think about and plan for unknown events. Most every  client tell us they feel a sense of relief once their plan is in place. As with anything, the more you do something, the easier it gets. Reviewing and revising your estate plan is important, especially in light of the following events.

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Should You Discuss Your Will Over the Holidays?

Oh, the holidays. As we prepare to get together with family and friends who live near and far, this time of year tends to bring up a lot of questions for everyone. With people being more mobile than ever, these opportunities for familial togetherness can feel few and far between. You may be wondering if you should bring up your estate planning with loved ones this year while you have the chance to speak to the key people in person.

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ESTATE PLANNING 102: What is a Trust?

You have probably heard of this thing called a “trust.” You may even have a trust. But do you know what a trust is?

 

Merriam-Webster defines a trust as “an arrangement in which someone's property or money is legally held or managed by someone else or by an organization (such as a bank) for usually a set period of time.”

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Funds for Fido: The New Minnesota Pet Trust

Many pet owners care for their pets like family. For many pet parents, the animals are their family. Now, Minnesota law allows Minnesota pet owners to treat their pets like family even after they’ve passed away. With a new statutory pet trust, pet owners can set aside funds to be used after they die for the care of their animals.

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