Losing a loved one is stressful enough without having to deal with a botched funeral. Preplanning, due diligence and good communication can head off difficult surprises.
When you're in the midst of a divorce, you're probably not thinking about estate planning or your will. However, if you're divorcing, you should think about the impact a divorce can have on an estate plan.
There are frequently asked questions that people have about revocable living trusts, wills, supported decision making agreements (new), powers of attorney and advance health care directives.
The Internal Revenue Services has announced the inflation-adjusted figures for estate, gift and generation-skipping transfer (‘GST’) tax exemptions for 2023.
Trusts are excellent vehicles for probate avoidance, ease of transition of funds to one’s beneficiaries upon death, asset protection planning and estate tax planning.
While thinking about legacy planning can be unpleasant because it involves discussions about incapacity or mortality, it's an important aspect of good financial planning that shouldn't be ignored.
