In a famous quote by Benjamin Franklin, “nothing can be said to be certain, except death and taxes.” Now taxes are not fun; however, they are certain, and there are many different kinds of taxes. In estate planning, we deal with several different types of taxes, and people often mix them up. Here we will lay out the different types…
A client recently asked about leaving property to his only child and wanted to know if he could add his child on title to his home rather than using a trust. The client wanted to use joint tenancy to avoid probate and smooth transition between parent and child. While my client was correct about avoiding probate and the smoother transition,…
Big Three from Episode #058: Parents can nominate someone for guardianship, but only the judge can appoint someone.As a parent, make sure your wishes are clearly expressed in your estate plan; otherwise, you will have absolutely no say in the matter.Choose potential guardians that you can trust to make sure things get done. Time-stamped Show Notes: 2:30 – These are…
Who needs to think about long-term care? That’s something for down the road. Or maybe you’re healthy, you have your wits about you, and you just don’t think that is something you will ever need. Well, believe it or not, 70% of people over the age of 65 will need long-term care at some point while aging. Unfortunately, health insurance…
