Estate Planning

Top 7 Most Common Estate Strategy Mistakes (and How to Avoid Them)

By |2024-04-02T09:56:00-05:00April 1, 2024|Estate Planning, Featured|

Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to confusion, potential family disputes, and outcomes that don’t align with your ultimate wishes. Creating a financial strategy that considers how an estate is structured is one of the most important services we provide as financial professionals. Over the years, we’ve helped guide many of our clients so they can make sound estate decisions and potentially avoid any missteps.1,2 1. Failing to create a comprehensive estate strategy One of the biggest financial mistakes is not developing a strategy for your estate. Some people never get around to it, while others think that estate concerns are only for the wealthy. Without a strategy, your assets may not be distributed [...]

Living Trusts: Understanding the Basics and Key Considerations

By |2024-05-16T21:55:02-05:00December 14, 2023|Estate Planning|

Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes. One popular tool that can be used in estate strategies is a living trust. A living trust can provide a flexible and efficient way to manage assets during your lifetime and after your death, but it’s important to understand how it works and whether it’s the right choice for your individual circumstances. Using a living trust or any other type of trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with these rules and regulations. In this blog, we’ll dive into the details of living trusts, including how they differ from other types of trusts, what their benefits and limitations are, and how they can [...]

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