Trusts vary in their structure, funding, and terms, so it’s hard to know how divorce will impact your trust without review. It’s safe to say, without question, your trust (and really your entire estate plan) should be reviewed during your divorce to prevent unforeseen negative outcomes. So, how will divorce impact a will or trust?The […]
A celebrity’s image and likeness can continue to produce considerable income after death. This type of intellectual property is considered part of your estate, and the IRS can tax its value. In the case of pop star Michael Jackson’s estate, that recently meant an IRS bill to the tune of $64.5 million, years after his […]
Of the handful of major life events that require your serious consideration, few are as emotionally charged as how to leave your assets for loved ones at the time of your death. This often complex process is accomplished via testamentary documents such as wills and trusts, which have recently become available for purchase online as […]
Multi-generational households are becoming the new (or maybe it’s really old) in vogue way to handle the care of aging parents. And we’re all for it so long as you consider the implications and set your family up for success. Here are 7 expenses to consider when your senior parents move in. With Mom or Dad […]
As your family size grows, there is lots to prepare for and consider. Welcoming a new family member can be a joyous occasion, and requires some planning. Adding a new family member can affect your finances and create a need for more protections. Reassessing your insurance coverage might not be at the top of your […]
Estate planning for college kids? Yes. With high school graduation coming up, many parents will soon watch their children become adults (at least in the eyes of the law) and leave home to pursue their education and career goals. Turning 18, graduating high school, and moving out is a huge accomplishment. And it also comes […]