What Is Respite Care? Can It Help With Caregiver Burnout?
It is easy to burn out when you are responsible for providing full-time care to an aging or disabled loved one.
Avoiding Mistakes in Inheritance Planning
After the passing of a loved one, coping with emotions while receiving an inheritance can be a complicated experience. The loss of a loved one is sad but the influx of funds can bring joy or relief. It can be…
When Does Someone Need Financial Guardianship?
When individuals cannot manage their finances, courts can appoint guardians. Financial guardianship is for those who need help handling money.
Instruction Letters: What Are They?
A letter of instruction, or letter of intent, is an essential part of estate planning. It includes any background information and details about your overall estate plan. Unlike a will, a letter of instruction is not legally binding. It can…
Grantor Retained Trusts & Unitrusts
A critical component of estate planning is wealth management, especially for individuals who want to protect their assets and minimize taxes. Two wealth management tools used in estate planning are grantor-retained annuity trusts (GRATs) and grantor retained unitrusts (GRUTs). These…
Preparing Graduates for Their Financial Future
Your child's financial future is important, whether they're graduating high school or college. You want to set a strong foundation for long-term financial stability by broadening their scope of financial literacy. Sharing the following tips can help prepare them. Budgeting…
How Do Estate Planning and Elder Law Differ?
The two have similar concerns, but elder law applies estate planning strategies primarily to issues facing seniors as they age. How Estate Planning and Elder Law Are Similar No matter what stage of life we’re in, we face challenges. Hope…
Planning for Family Wealth and Taxes
To maximize wealth preservation and minimize tax liabilities, many legal strategies are developed for high-net-worth families. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges…
Trusts with Grantor-Retained Income
Some people seek estate and wealth transfer strategies that preserve assets while providing lifetime financial benefits. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain an income stream from tax-advantaged assets…
The Importance of Holding a Family Caregiving Meeting
We all know someone who, at some point, will need help with declining health. Many times, family members or friends will step in to help. Depending on the family’s dynamics, determining who should handle the role and what type of…