Posts Tagged ‘EstatePlanning’

Updating Your Estate Plan

Tuesday, September 20th, 2016

An estate plan has three objectives. The first goal is to preserve your accumulated wealth. The second goal is to express who will receive your assets after your death. The third goal is to state who will make medical and financial decisions on your behalf if you cannot. Over...

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Tell Your Beneficiaries About Your Accounts and Policies

Tuesday, May 24th, 2016

Let them know how they will receive retirement assets and insurance benefits. Will your heirs receive a fair share of your wealth? Will your invested assets go where you want them to when you die? If you have a proper will or estate plan in place, you will likely...

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Will You Avoid These Estate Planning Mistakes?

Monday, January 18th, 2016

Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly, but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some common and not-so-common errors to avoid. Doing it all yourself. While you could write...

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What is a Charitable Remainder Trust?

Wednesday, November 12th, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Charitable Remainder Trust To leave an inheritance that benefits certain individuals and your favorite charity(ies), consider creating a...

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How Do I Reduce My Potential Estate Tax Liability?

Wednesday, October 29th, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Asset Preservation You can reduce the potentially high costs (in some states) of probate by funding your trust(s)...

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What’s the Difference Between Per Capita and Per Stirpes?

Wednesday, October 15th, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Per Capita vs. Per Stirpes When you stipulate in your will, trust agreement, or a beneficiary designation form...

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What is an ILIT?

Wednesday, October 8th, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Irrevocable Life Insurance Trust (ILIT) An irrevocable life insurance trust (ILIT) is a legal means through which the...

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What is a QTIP Trust?

Wednesday, October 1st, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Qualified Terminable Interest Property (QTIP) Trust A QTIP trust is usually created to benefit the spouse of a...

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What is a Bypass Trust?

Wednesday, September 24th, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Bypass Trust A bypass trust (also called a “family,” “credit shelter,” or “B” trust) enables your family to...

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What is a Pour-Over Will?

Wednesday, September 17th, 2014

This is a continuation in a series of posts that will focus on some of the various terms and concepts that you may run into as you tackle your Estate Planning. Pour-Over Will A living trust should be combined with an abbreviated will called a pour-over will.  The pour-over...

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