There is so much conflicting information regarding estate planning options, it’s difficult to know whom to trust. Don't be fooled by the most common myths that have been used to scare the public.
While planning for the care of a special needs child certainly tops the list of emotionally-charged topics, the peace of mind parents gain from a well-designed estate plan is immeasurable. The mere idea wrenches the heart of any parent: if untimely death or disability strikes, who will care for your children? Because no one is immortal, most of us recognize the need for an estate plan, preferably one that appoints a suitable guardian for our children, sees to their financial needs, and avoids probate. In the best of circumstances, it’s a task requiring clear thinking and good legal advice. But [Read more...]
Every American adult shares a dubious characteristic—each is a walking litigation target. Part of your birthright is that you may be sued at any time, for any reason, and for any amount.
Americans are some of the most generous givers on the face of the planet. They reach into their pockets and take out their checkbooks on behalf of others more often than any other industrialized nation.
At first glance, the concept of an Individual Retirement Account (IRA) seems simple enough: a structured way to save for your golden years while deferring taxes on your growing nest egg.
A humorous take on how families pass on businesses, such as family farms, is reflected in this quip: Avenge your children; give them equal shares in your business.
If you own life insurance, congratulations. Sadly, most of us put off this critical element in our family's financial planning, which may have devastating consequences on the loved ones left behind.
While often maligned as a headache, in reality probate offers a solid legal framework with advantages for those who have properly prepared prior to death and who have retained skilled legal counsel.
The passing of someone close to you is a difficult and emotionally draining time. The last thing you likely want to deal with is the business of settling your loved one’s final affairs. But, if you are a potential executor, it’s one of those things that must be done, and it’s not as horrible as you may have feared.
Problems often arise when a parent with minor children passes away with no estate plan in place, leaving behind potential hardship on the emotional and financial future of their minor children.