If you don’t have a will in place, now is the best time to start planning. Creating a will is one of those tasks that everyone knows they should do, but one that often gets put off. If you’re brand new to the concept of estate planning, there are a few things you should know […]
4 Estate Planning Resolutions You Can Make in 2015
It’s that time of year again; and while you’re resolving to lose weight, exercise more or break that annoying habit, why not throw a few resolutions toward your estate and retirement? Here are a few ways you can take the first steps toward a stronger financial future this year. Create a will: Did you know […]
Estate Planning for Authors
I count several authors among my clients. One has published many works in her area of expertise. Another no longer writes, but enjoys a large income from royalties. And another is getting his break through self and online publishing. All have concerns about their intellectual property and the future of the efforts. Focus on Smooth […]
Transferring Your Vehicle to Your Trust in Nevada
There are several fact-specific reasons I don’t often counsel my clients to put their vehicles in their revocable trusts: You will go through several more vehicles during your life so it’s not worth the trouble. Your vehicle has no equity. Your insurer does not like to see a trust on registration. Nevada has a mechanism […]
Your Will Is Not Enough
When estate planning, don’t assume your heirs can maintain off your will alone. Take these steps to ensure your beneficiaries have all the wealth they need to take care of themselves and your final expenses. Set Up a Retirement Plan A retirement plan, such as a 401K or IRA adds extra room for comfort to […]
Roth IRAs Explained
When planning retirement, you want to ensure that you and your beneficiaries have a legal and tax conscious plan that can last over everyone’s lifetimes. A Roth IRA, a popular individual retirement plan, is generally tax free for you and your heirs. Like all retirement plans, Roth IRAs have unique terms and qualifications you should […]
Think Twice Before Adding Children to Title on Your Home
One of the most common techniques in “poor man’s estate planning” is a parent adding kids as co-owners on title to the home. On its face it makes sense: you want your kids to receive the property when you die, so adding them to the deed guarantees that will happen. Unfortunately, a lot could go […]
Living Wills, Medical Directives, and Powers of Attorney Maintain Control
Even if you are incapacitated in such a way that you are unable to give immediate feedback and directions to others, you can still ensure health care decisions you made in advance will be respected. Living Wills and medical directives enable you and your loved ones to know precisely what to do in the event […]
Estate Planning Life Cycle
The attached image was prepared for financial advisors and provides a sharp and simplified overview of progressing life stages and their respective planning issues. Granted it’s generalized, but it offers a good template for the average person. It doesn’t mention focusing on estate planning until the Empty Nester stage, but I would argue estate planning […]
Keeping Organized with Your Estate Planning
My wife and I have two boys, one is five and the other is two. They both love Legos, but one plays a little more neatly with them than the other. After helping my five-year-old build several cars and other sets, I told him he needed to put them up on his shelf before his […]