Whether it’s to qualify for Medicaid, avoid probate, or reduce your tax burden, transferring ownership of your home to your adult child during your lifetime may seem like a smart move. But in nearly all cases, it’s actually a huge mistake, which can lead to dire consequences for everyone involved. With this in mind, before […]

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The Estate Tax Exemption is a tax imposed by the federal government when property and assets are transferred to your heirs and beneficiaries at your death. Currently, the federal estate tax exempts up to $13.61 million of your estate, meaning your heirs or beneficiaries will not have to pay tax on an asset or property […]

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Probate is required when a person passes and leaves behind assets that are solely in their name. A probate case, overseen by the court, is the process designed to validate the deceased person’s will if one exists, pay off any outstanding debts and taxes, and distribute the remaining assets to the rightful heirs or beneficiaries. […]

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People often put off estate planning for many reasons. We make excuses such as….a trust is too costly, I don’t have enough assets to make it worth the effort, or I’m too young, so I’ll worry about it later. But the more lies and excuses you tell yourself, the more you put yourself and your […]

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Your estate is made up of all your personal possessions, including your home, vehicles, bank accounts, investments, insurance, household items, and more. But your wealth is much more than just your financial assets. It includes your purposes, passions, family values, memories, and stories that make up your personal legacy. The purpose of estate planning is to give […]

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As you’ve probably noticed by now, we’re in the midst of great economic shifts. The roller coaster of the stock market, rising interest rates, dropping home values, and inflation through the roof. For many, it can be a great financial setback. During every economic shift, whether it’s the Great Depression, the last Great Recession, or […]

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There are five essential documents you need to have in place to ensure that your family and assets are taken care of if you become incapacitated or when you pass. These documents are part of your legacy. They are the means to making your intentions clear and to ease the process of how your family […]

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Doctors work hard, they work long hours, and they have a fairly selfless job in which they take on challenges and even risks to help others when they need it most. The upside, naturally, is that they are fairly well compensated for it. The statistics from 2018 show that the average salary for a medical doctor was […]

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Do you suffer from a chronic illness? Whether it is severe or mild, you want to consider it carefully when you do your estate planning. It can have a big impact on the type of planning that you do. Many people assume that chronic illnesses are not that common, but it’s just not true. The statistics […]

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Creating an estate plan is a big step toward making sure your family members are taken care of after you pass away. While some people don’t like having to make these plans, they do need to take the step anyway. Failing to do so can leave their family members without the legal means to obtain […]

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