No one can predict the future, which is why it is important to be prepared for any possible outcomes. While you may not like to think about it, this can include mental or physical incapacitation. There are two main reasons as to why you should have an incapacity plan in…
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When major life events happen, it is important for an individual to update their estate plan as well to reflect these changes. This is especially so in the event of a divorce. When a divorce occurs, people will most likely not want their former spouses in positions of power in…
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When creating an estate plan, there can be a lot of information to consider in one sitting in order to ensure you accomplish everything you want to. One of which can be if there are any tax implications that come with the plan. Trying to understand this can be overwhelming,…
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When a person creates an estate plan, they may choose to set up a trust in the process. This allows them to protect their wealth from taxes in order to pass on as much as they can to a beneficiary. In doing so, the trustor appoints a third-party trustee to…
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With tax season approaching, it is important to think about the tax implications that come with estate plans. This is because educating yourself on the topic can result in certain benefits before the fiscal year ends. During this time, consider the following estate and tax planning steps: Bunching Charitable Gifts…
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It is the job of a child’s parents to take care of them and ensure they have a happy and healthy upbringing. While this is usually the case, life is unexpected and parents cannot always be sure that they will be around for their children. It is because of this…
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