Either a will or a trust may be appropriate for your estate depending on your circumstances and neither is best for all situations. Which do you need more, a will or a trust? Or do you need both? Well, the answer really varies by person. Forbes recently considered this question in an article titled “Wills […]

The most common and basic estate planning vehicles are wills and living trusts. Everybody should have a will or a living trust, but which one? Should you have a living trust? To clarify what this type of trust is, a living trust is created by placing some or all of your estate into a trust […]

“An estate tax is primarily based on the total value of a decedent’s estate compared to the state’s estate tax exemption amount,” Schoenbrodt said. “By contrast, an inheritance tax is primarily based on the identity of a decedent’s beneficiaries, their relationship to the decedent, and the amount passing to certain classes of beneficiaries.” What is […]

Plan to review your beneficiary designations on a regular schedule, ideally as part of an annual review of your finances. Life can get hectic, so it’s best to have a plan when it comes to annual to-do’s or check-ups. Otherwise, some very important things may fall through the cracks. Did you change the batteries in […]

Recently, Paul Walker’s father filed to open the estate, including Walker’s Last Will and Testament. It sheds some interesting information about the Paul Walker Estate and highlights some valuable estate planning lessons. When it comes to celebrity estates, there are many lessons we can all learn about planning. And although the media tends to highlight […]

Take advantage of these tips to grow your retirement nest egg this year. Are you saving for retirement? Whether you are or not, it’s never too late to start! But the earlier the better. A recent article in US News and World Report titled “5 Steps to Save More for Retirement” offers solid tips on […]

While battles over image and likeness rights are reserved for the rich and famous, the others are common battle-grounds for dysfunctional families, especially in second-marriage situations. Many people mistakenly believe that only the wealthy end up fighting.  Sadly, it’s far more common than most people realize — even for families of very modest wealth. Is […]

Seriously, if you just do this one thing right for an entire lifetime you will end up wealthy. It is literally that simple. Wealth building can essentially be summed up with one sentence: “Spend less than you earn and invest the difference wisely.” Of course, there’s more to it than that. Nevertheless, if you adhere […]

When you really think of it, who is better equipped to serve your interests under such dire circumstances than you yourself? Estate planning is not meant to be something done solely in the last chapter of life. Think of it as a plan for all the chapters of your life—a plan that you should start […]

This is government insurance for people who have very little money that covers, among other things, the cost of home care and nursing home care when a recipient can no longer care for himself. What is Medicaid? More than likely you have heard of Medicaid, considering it has been part of the national political debate […]