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Potential Problems with Beneficiary Designations

Posted on: December 9th, 2019
Many people use beneficiary designations, and for good reason. Some significant assets, including life insurance policies, IRAs, retirement plans and even bank accounts, allow a beneficiary to be named. It's free, it's easy, and, when the owner dies, these assets are designed to be paid directly to the individual(s) named as beneficiary, outside of probate. But that is not always what happens. ...

Why Does a Living Trust Cost More than a Will?

Posted on: November 8th, 2019
It will probably cost more initially to set up a well-drafted living trust than to have a will prepared. A true cost comparison should include not only the expense to establish the will or trust, but also what it will cost should you become incapacitated and after you die....

Who Should Be Your Successor Trustee?

Posted on: September 25th, 2019
If you have a revocable living trust, you probably named yourself as trustee so you can continue to manage your own financial affairs, but eventually someone will need to step in for you when you are no longer able to act due to incapacity or after your death. The Successor Trustee plays an important role in the effective execution of your estate plan....

Naming a Guardian for Your Minor Child(ren)

Posted on: August 14th, 2019
Parents with minor children need to name someone to raise them (a guardian) in the event both parents should die before the child becomes an adult. While the likelihood of that actually happening is slim, the consequences of not naming a guardian are great....

Providing for Your Parents in Your Estate Plan

Posted on: July 15th, 2019
If you are part of the baby boomer generation (born between 1946 and 1964), you may also find that you are a member of the sandwich generation, with responsibilities to both your parents (now or in the future) and your children. This should change the way you think about estate planning--instead of the traditional approach of how to leave assets to your children and future generations, you may also need to include providing for the previous generation (your parents)....
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