Guardianship serves as a support system for those who can't fully care for themselves. But what happens to an individual's freedoms when they become a ward? Whether you're planning for yourself or a loved one, knowing what freedoms a ward retains under guardianship...
Estate Planning
How a spendthrift trust can augment your estate plan
When it comes to estate planning, you may be worried about how your beneficiaries will use the wealth you pass on to them. This could especially be the case if they are bad with money or suffer from addiction, which could affect their spending habits. A spendthrift...
How do you handle estate planning for blended families?
Due to the diverse needs and dynamics involved, estate planning for blended families can be challenging. Ensuring that you consider biological and stepchildren fairly requires careful thought and planning. By addressing the unique aspects of blended families, you can...
Naming a minor as a beneficiary
When it comes to estate planning, our main goal is to ensure that our loved ones are safe and secure when we pass away. For families with minor children, this means considering the children’s well-being and financial security in the event of our death. State laws play...
The role of a will in estate planning
Crafting a will is not just about splitting up material goods after you pass away; it is also a way to provide for those you care about most, safeguard their future, and potentially minimize conflicts and legal battles. Whether you are a young professional just...
3 common misconceptions about asset protection planning
In asset protection planning, individuals get to organize their financial affairs in a way that would protect their assets from potential future liabilities and creditors. However, several misconceptions surround the process, resulting to many people having...
Timing is important in asset protection strategies
Asset protection is a critical aspect of estate planning for individuals with substantial wealth or those engaged in professions with a higher risk of lawsuits. It involves actions to safeguard your assets from potential creditors, lawsuits or other unforeseen...
Avoid the appearance of a fraudulent transfer
Asset protection is particularly important if you work in an occupation that is at a high risk of lawsuits, although any entrepreneur should consider how to preserve their assets in the event of unexpected litigation. Otherwise, at some point it may be too late to...
Estate planning basics for seniors
As you reach the golden years, it is only natural to think of the future and how to ensure your loved ones are provided for after you are gone. Although most individuals put off the idea of creating an estate plan, it is a crucial step to safeguard your legacy and...
What are potential issues to look out for when estate planning?
When estate planning, there are several issues that you should be aware of to ensure your estate’s personal representative distributes your assets according to your wishes and that you continuously protect your loved ones’ financial future. Here are some common issues...
