While most people assume only the wealthy need to worry about asset protection, those with less wealth and fewer assets may be at even greater risk. For example, if you’re a multi-millionaire, a $50,000 judgment against you might not be that big of a burden. But for a family with a modest income, home, and [...]
A will is one of the most basic estate planning tools. While relying solely on a will is rarely a suitable option for most people, just about every estate plan includes this key document in one form or another. A will is used to designate how you want your assets distributed to your surviving loved [...]
As we head into the peak of the holiday season, you may start to spend time surrounded by your family and friends that you haven't seen in a while. The holidays offer an opportunity to visit with loved ones you rarely see and get caught up on what’s been happening in everyone’s life. And though [...]
If you’re like most people, you likely think estate planning is just one more task to check off of your life’s endless “to-do” list. You may shop around and find a lawyer to create planning documents for you, or you might try creating your own DIY plan using online documents. Then, you’ll put those documents [...]
Although you may have just filed your 2019 income taxes in July, now is the time to start thinking about your 2020 return due next April. While it’s always a good idea to be proactive when it comes to tax planning, it’s particularly important this year. In addition to annual updates for inflation, the Coronavirus [...]
The days of working for a single employer for decades until you retire are over. Today, you are much more likely to change jobs multiple times during your career. According to the Bureau of Labor Statistics, today’s workers have held an average of 12 jobs by the time they reach their 50s. Since people change [...]
Too many estate plans are created and then quickly forgotten, put on a shelf, and never looked at again. While we do recommend that you review and update your plan at least every three years, no matter what happens in your life, your plan must be updated immediately in the event of any of these [...]
In many families, money still is not a typical dinner table discussion, but we think it should be. Surprisingly, this is especially true when it comes to affluent parents. And, we hope to change it because one of the most important things you can do is talk to your kids (and your parents) about money. [...]
Many people come to us curious (or confused) about trusts and taxes. This article is going to sort it out and clarify things for you. There are two types of trusts, and each have different tax consequences. Revocable trusts, which are the far more commonly used trusts, have no tax consequences whatsoever. A revocable trust [...]
Maybe you, like many of us, have been raised to think that the safest way to live in the working world is to have a good career and a steady paycheck. This financial crisis is challenging that framework for many people. Even if you had a steady job, and even if you still have one, [...]
