What is a pour-over will?

Dealing with the loss of a loved one is never easy. When inheritances, homes, estates and mortgages are involved, tensions can run high within a family. It is easy to get lost in the paperwork and terms.

These vehicles let a family manage multiple interests, preserve parental control and protect assets from claims of creditors and divorcing spouses, among other benefits.

Frequent triggers also include changes in the health of executors and guardians; changes in laws, which may impact tax and legal strategies; and changes in state residence, which can also impact planning.

What is an unsupervised administration and why is it better than other types?

For most families, the estate planning process is more involved than simply naming beneficiaries. While the primary goal of estate planning is transferring assets in an orderly and tax-efficient manner, it’s just as important to focus on preserving wealth across generations.

Your grown children will not agree to be the recipients of your downsizing, if it means their upsizing.

Veterans Affairs officials are warning about an uptick in scam attempts targeting veterans’ pensions that could result in serious financial problems for elderly or infirm individuals.

The federal estate tax exemption and gift exemption is presently $12.06 million. A married couple can transfer $24.12 million to their children or loved ones free of tax with proper planning. The exemption is tied to inflation, so it will continue to rise.

You may lose the ability to manage your own affairs as you grow older. Therefore, it’s necessary to have an incapacity plan in place.