If you think Estate Planning is simply the creation of a will or trust, you are missing a large portion of information, and could potentially have assets that do not flow according to the plan you have set up in your will or trust.
Developing a proper business plan, securing financing, marketing, paying taxes and all of the other small, but significant, details will surely be some of the most challenging yet rewarding work that you will perform in your lifetime.
Let’s face it: mortality is hard to think about and death is impossible to plan for. What is doable, however, is getting affairs and assets in order to prevent loved ones from inheriting a headache and legal fees in the event of an incident.
I received a joint ownership of my father’s house about 10 years ago with my sister. She always lived there. I share no expenses and she and my dad pay all the bills. We plan to sell the home after our father passes. Can I give her my half, so we don’t face taxes?
What are Medical Advance Directives and what is the difference between a Living Trust and Living Will?
An irrevocable life insurance trust (ILIT) can provide peace of mind, as you start your estate planning process. If you have a sizable estate or young beneficiaries, an ILIT can provide control over a life insurance policy that a last will and testament may not.