When you create an estate plan, it’s natural to feel a sense of accomplishment and relief. After all, you have taken an important step in securing your family’s future. However, estate planning isn’t a one-time task. Your initial plan reflects your life at the time it was made, but life is full of changes. Regular […]
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How Does a 529 College Savings Plan Work?
If you are a new grandparent, you may be thinking of ways to help your grandchildren prepare for college. A 529 college savings plan can be a good way to help as you enhance your legacy when you map out your estate plan. 529 College Savings Plan A 529 college savings plan is a popular […]
What Is Protected From Creditors?
The executors are settling an estate — but the decedent owes money. What can the creditors take, and what is reserved for the inheritors? There is no easy answer, and a variety of federal and state laws apply. To start with, retirement accounts that qualify under the Employee Retirement Income Security Act are generally protected from […]
How to Create a Business Succession Plan
Knowing how to create a business succession plan is essential for any business to ensure continuity and stability in the case of an unexpected event. A well-crafted succession plan places the right people in leadership roles and outlines specific procedures for how operations will be managed in the event of an emergency. There is an […]
Trust Types, Purposes, and Benefits
A trust allows you to be specific about how, when, and to whom your assets are distributed. Trusts can be arranged for a variety of different goals: to reduce estate taxes, to transfer property, and to preserve assets for minors or a charity. Trusts offer more flexibility than a will to control your assets. You […]
Take Action During Estate Planning Awareness Month
October is Estate Planning Awareness Month, a time dedicated to encouraging individuals to take control of their legacies. One of the most significant risks in estate planning is intestacy – the state of dying without a valid will. When someone dies intestate, the distribution of their assets falls under state law, often leading to unintended […]
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