Advisor Concerns

Does My Estate Plan Need to Include My Vacation Property?

Posted on: November 9th, 2017
Yes! If you own a vacation home, timeshare, investment property, or any other asset outside of the state where you are domiciled you must make sure it’s included in your estate plan. If you fail to include these in your estate plan, or fail to have an estate plan at all, your heirs will encounter issues, and usually the expense and hassle of court costs, when inheriting these assets....

Estate Planning Isn’t Spooky! But not planning can be downright terrifying.

Posted on: October 26th, 2017
The idea of implementing an estate plan might be one of the scariest things you have to confront as an adult. But estate planning doesn't have to make chills run down your spine. On the contrary, estate planning is empowering for both you and your family and allows you to live confidently knowing that things will be taken care of in the event of your passing or incapacity. Remember, estate planning is not just for the ultra-rich. If you own anything or have young children, you should have an estate plan. Read below to find out reasons why....

How A Living Trust Helps Your Family

Posted on: September 28th, 2017
There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, and caring for family members with special needs. Estate planning also lets you dictate how your assets will pass on to future generations after your death....

Estate Planning For the Newly Married

Posted on: September 14th, 2017
Now is the perfect time to start working on an estate plan—because, as newlyweds, you may not have a list of your accounts, but you've effectively just done a working inventory of your possessions—as you've figured out how to consolidate two households into one. You've already been working on the new banking and shared responsibility of bills and taxes and so forth....

Do You Really Need A Trust?

Posted on: August 3rd, 2017
Although many people equate “estate planning” with having a will, there are many advantages to having a trust rather than a will as the centerpiece of your estate plan. While there are other estate planning tools (such as joint tenancy, transfer on death, beneficiary designations, to name a few), only a trust provides comprehensive management of your property in the event you can’t make financial decisions for yourself (commonly called legal incapacity) or after your death....

Isn’t There Already A Law That Leaves Everything To My Spouse And Kids?

Posted on: July 20th, 2017
Many people think that if they die while they are married, everything they own automatically goes to their spouse or children. They’re actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as “intestate.” In that case, the specifics will vary depending on each state's law, so where you live when you die can significantly change the outcome for your family. However, the general rule is that your spouse will receive a share, and the rest will be divided among your children. Exactly how much a spouse will inherit depends on the state, though. I could easily copy the Arizona and Utah intestate statutes for you to read but the fact is, you may move and become subject to the laws of the state of residence at your death....
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