As you engage yourself in the process of estate planning in earnest you would do well to recognize the fact that there are choices that must be made with regard to vehicles of asset transfer. Depending on your resources, your intentions, and your family dynamic any number of different approaches may be appropriate.This can sometimes get complex for some individuals. However, the ideal solution exists regardless of your circumstances, and putting together the perfect packages for high net worth … [Read more...]
Do-It-Yourself Estate Planning Examined By Experts
When you hear estate planning lawyers advise against do-it-yourself inheritance planning you may think that attorneys are obviously going to make this recommendation because their profession involves drawing up Last Wills, trusts, and the like.However, the actual truth is that attorneys are licensed and required to give sound advice. Do-it-yourself estate planning is not universally condoned because there are no guarantees that the documents will be drawn up correctly if you don't engage … [Read more...]
Self-Settled Alaska Trust Can Be a Good Choice
Anyone can be the victim of a lawsuit, and certain business dealings can result in creditors seeking to attach your personal resources. People who are in particular fields such as physicians and those who invest in real estate are especially vulnerable.Given the above, asset protection is something to take seriously if you are in possession of a significant store of financial resources.If you have access to assets that you put into a trust they are usually going to be unprotected because you … [Read more...]
Transferring Policies Into an ILIT
Central New Jersey estate planning attorneys are always going to emphasize the importance of planning ahead even as a relatively young adult. One of the reasons is because of the fact that there are no guarantees and you never know exactly how long you will live. Unfortunately, people of all ages pass away every day and they leave families behind.But in addition to protecting your family in the event of an unexpected catastrophic accident or illness planning ahead can provide certain logistic … [Read more...]
New Jersey Estate Planning Information
Addressing estate planning and elder law issues is something that every responsible adult is going to have to do, and the sooner you get started the better.If you procrastinate your family will be left behind to sort everything out on their own if you were to pass away unexpectedly. And if the resources are not there for them to maintain their quality of life a devastating family tragedy becomes all the worse.And, with regard to elder law matters such as the need for long-term care you could … [Read more...]
Supplemental Or Special Needs Trusts
Obtaining personalized attention from an experienced professional is the key to crafting an estate plan that is ideally suited to fit the needs of your family. There is no universal course of action, and this is something to keep in mind when you hear entities claiming that estate planning is something that you can do for yourself with the benefit of some generic template documents.Depending on the specifics of your situation any number of approaches may be optimal. One specialized … [Read more...]
Select A Solid Trustee
If you decide to use a trust such as a revocable living trust to transfer assets to your loved ones after you pass away you are going to have to select a trustee. The trustee will be charged with the responsibility of administering the resources contained within the trust.While you are still alive you can actually serve as both the trustee and the beneficiary so that you retain complete control. But when you are deciding on a trustee who would take over after your passing you should take this … [Read more...]
Shortcuts Can Lead To Nowhere
It is no secret that millions of dollars are essentially thrown away each year as people momentarily demonstrate lapses in judgment and make purchases based on sales pitches that sound too good to be true. This is something to be very much aware of when you come into contact with websites and advertisements concerning do-it-yourself estate planning notions.Technically you can state your final wishes in any number of ways. You can write out your will in your own handwriting and there are people … [Read more...]
Some Canines Carry Financial Clout
It is no secret that many people pamper their pets, and perhaps they deserve it. Our dogs and cats provide us with a unique brand of love and companionship. They make no judgments and simply brighten your day, and this can subtly but profoundly improve your quality of life.The above being stated you have to make sure that you remember your pets when you are planning your estate. There are those who fail to do so because they are under the impression that they'll outlive their pets, but you … [Read more...]
Zuckerberg, Moskovitz Planned Wisely
Financial success is supposed to be a purely positive thing that we are all encouraged to strive for throughout our lives. But the fact is that you have to pay the price for your success in the form of some rather harsh Federal taxes.This is one of the first things to keep in mind if you should find yourself in possession of a significant amount of money, and it certainly crossed the minds of Facebook founders Mark Zuckerberg and Dustin Moskovitz.According to Forbes magazine the Facebook … [Read more...]
