When planning your estate, it's important to understand the difference between assets and estate. This knowledge helps ensure that your estate honors your wishes and cares for your loved ones according to your plans. Understanding assets Assets are anything you own...
Year: 2024
Thoughtful items you can leave in your will
When planning a will, most people think about leaving money, property, or family heirlooms. However, there are many other meaningful items and gestures you can include that may hold great sentimental value for your loved ones. Here's a look at some thoughtful and...
Protecting your legacy from the “third-generation curse”
Creating a lasting legacy is a goal for many families. However, ensuring it endures beyond the third generation can be challenging. The "third-generation curse" refers to the phenomenon where wealth accumulated by the first generation is often depleted or lost by the...
How can special needs trusts be used?
Special needs trusts offer a powerful tool to provide financial support for a loved one with a disability. This trust is ideal when you worry about jeopardizing their eligibility for government benefits. It is important to understand how special needs trusts help...
What happens if you leave a valuable item out of your will?
When you draft your will, attention to detail is important. Every element of the document requires careful consideration to ensure that your final wishes are precisely articulated and executed. Unfortunately, overlooking a high-value item in your will can lead to...
How can trusts help high-net-worth individuals?
For individuals with a lot of wealth, navigating the complexities of financial planning can be daunting. However, when planning for the future, trusts offer many benefits. Learning more about this versatile framework is helpful for anyone thinking about estate...
What is asset protection and do I need it?
Asset protection refers to the legal strategies and techniques you use to protect your business interests. There are many potential liabilities and risks to your assets, some of which could have devastating financial effects. Whether you are a small business owner or...
How can you avoid probate?
Probate, the legal process of validating a will and settling an estate, can be time-consuming, expensive and emotionally draining for your loved ones. Fortunately, there are several strategies you can employ to avoid probate and ensure a smoother transition of your...
What’s a holographic will, and are they legal?
Many people understand the concept of a traditional will when they think about estate planning. However, there is another type of will that you may have heard of but might not fully understand: the holographic will. Before you finalize your estate plan, you should...
What are common reasons for challenging a will?
When a loved one dies, their will often dictates where their assets and belongings will go. However, there are instances where individuals may contest or challenge the validity of a will. This legal process can be complex, but it is important to understand the common...