It is common knowledge that everyone needs to have an estate plan in place. Commonly, the focus is on assets, taxes, and any changes to legislation that may affect the security of your loved ones in the event of your incapacity or death. What many often forget, however, is that changes in family dynamics and circumstances can threaten even the most well thought out estate plan. This silent threat can easily keep your estate plan from actually working when it is truly needed. Below are several situations where updating an existing estate plan or creating a plan for the first time is…Read More
Will vs. Trust Wills and trusts may seem like very similar estate planning options, and while there are similarities, there are specific differences in how they function: A will is a legal document that designates how you want your assets handled after you die A trust is a fiduciary arrangement, that allows a thirds party to hold and manage assets for the benefit of a specific purpose or person DO YOU NEED A WILL OR TRUST? Are you one of the 60% of Americans (via AARP) that doesn’t have an estate plan, a will, or a trust set up? Are you hesitant…Read More
