There are many things to consider while estate planning, as well as after your estate plan has been created. Getting the process started is just the first step, you want to make sure it covers everything in your life just the way you desire. After it is complete, it must keep it updated with all the changes happening in your life. An estate plan is the most important plan of your life and you want to make sure it is done right. Read here how to avoid making some of the most common mistakes.
If you think it's awkward to discuss death while you are alive, it's even worse when your family members are left emotional and confused without some sort of guidance after your death or in an emergency. Putting off talking about these situations will do no good to you and your family. These famous celebrity stories highlight how important it is to not only to have an estate plan, but to also make sure it is regularly updated.
In a blended household, conflict is bound to arise between your loved ones when something happens to you, even if you already have a plan in place to take care of them. Fortunately, a method of planning exists for your type family. While legal planning can help resolve that conflict, it can also make your family bond stronger when done right. Whether you are the child of a parent who remarried or you are a parent who divorced and remarried, planning for everyone will keep the family together.
They say the Tax Cuts and Jobs Act is the biggest overhaul of the US tax system in 30 years. The impact will spread far and wide, starting with a significant cut in the corporate rate from 35% to 21% and lower levies on repatriating overseas profits. Yet, like the rest of us, you're probably wondering, "So, what does that have to do with me?" Even with the biggest impact aimed at businesses, there are still several changes to the personal income tax laws, and we highlight them here just for you!
Although parents will never ask for help, at some point they might need it or you'll want to step in to assist them. Helping parents become financially stable can be hard without the right information and knowledge about their current financial situation. Further, getting access to different accounts and making important decision on their behalf will not happen unless you are given the required legal authority to do so.
People often assume a Will is everything they'll need to take care of their business when something bad happens to them, but that can actually cause more problems and cost for their family than necessary. To ensure your business is passed on to your family exactly the way you want, you need to have a comprehensive plan that takes your life and business into account. Now check out these 4 key elements every business owner must have in their plan.
Many parents put off naming guardians for their children (or don't even know that it's what they're supposed to do for their children's life-long security and well-being) because they don't have access to the right info or just can't come to a decision on who will be best to care of their kids in the event of an emergency or worse! Bottom line: Done is better than perfect, and we've created the perfect solution to help you choose the right guardian today.
We're now seeing more people than ever before beginning to downsize their lives. Some are doing it as they're heading into retirement, and others just to simplify things and live more contemporary lifestyles. Regardless of their reasons, there's now a surplus of "stuff" that needs to be dealt with, and there are multiple ways you can help your family members take care of it.