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You're 40 years old, in the middle of your life. You're married, you have two kids, and you have a good job. You recently bought your dream home in the suburbs. Life has played out exactly how you wanted it to, and you assume you have decades left to enjoy it.Is now...
It is critical to take your time when naming a trustee, picking someone you know will do a good job. Perhaps your first inclination is to pick one of your adult children. Maybe you have another relative that you can count on. Perhaps you want to use a professional. No...
You are trying to decide if it is wise to use a trust while doing your estate planning. You know how helpful they can be, but you just need to determine whether or not your specific situation means that you'll really enjoy all of the benefits.Do you own property in...
The sad passing of TV personality Anthony Bourdain has brought up some important estate planning questions that others may want to consider.Bourdain and his wife were still legally married when he died. They did not want to get a divorce, as they were focused on...
The executor for an estate is often charged with taking care of the bills and financial obligations of the estate when the person who owned it passes away. After all, even if that person worked hard to be up-to-date on the bills, there may be final payments for...
Estate planning is all about preparing for the future and making sure that your goals are met. However, good estate planning often takes time.If you're prepping for a session with your attorney, take a few moments and gather up what you'll need to make the process...
The Tax Cuts and Jobs Act of 2017 doubled the exemptions that apply to estate taxes. Federal estate taxes won't apply to individual estates unless their net worth exceeds $11.18 million. For couples, the exemption is $22 million. This means that nearly all Americans...
You're thinking of setting up an irrevocable trust for your heirs. You're interested in a multitude of benefits, from the tax advantages -- which you do not get with a revocable trust -- to the control it gives you over how your heirs get and use their money.These...
Are you worried that someone might contest your will?It's a common issue. Family dynamics can sometimes give rise to a lot of strife -- and that can boil over in the midst of grief. Other times, people intentionally leave a potential heir out of their will and just...
You love your children, but you know that they're not great with money. Growing up rather wealthy, they take money for granted, not realizing how hard you had to work for it.You're worried that leaving your wealth to them directly is a recipe for disaster. You're...