Getting divorced can be an emotionally challenging experience (especially when children are involved), and it usually results in financial hardship. Rarely is the division of assets an amicable process. While your estate plan may be the furthest thing from your…
As the Internet of Things (IoT) increasingly permeates our lives, it is more necessary than ever to identify the digital property you own and manage it. From smart home devices to online investments and bank accounts, we’ve gone way beyond…
Estate planning is most commonly associated with wills, trusts, and passing assets to the next generation. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about…
The IRS adjusted the portability strategy of deceased spouse unused exclusions on July 8, 2022. This adjustment made it easier than ever for high-net-worth married couples to avoid paying federal estate taxes. Understanding the Portability of a Deceased Spousal Unused…
The probate process is the formal recognition of a will, the selection of a personal representative (executor), and the distribution of the estate's assets to those who are intended to benefit from them. It also requires paying the decedent’s outstanding…
Marriage, divorce, or losing a spouse are all emotional experiences, but they are also financial ones. One thing to think about is how marital status changes your social security benefits. Understanding your options in different situations removes the burden of decision-making…
The practice of estate planning is evolving due to changing family structures. As recently as thirty years ago, a traditional family comprised a husband and wife who married young, purchased a home, had children, and worked toward financial stability and…
Most likely, you have a beneficiary, as beneficiary designations are common in retirement accounts, wills, and trusts. A beneficiary is an individual (or legal entity) to receive the proceeds from a financial product or vehicle when the owner passes away.…