The saying goes that anyone who does not learn from mistakes in the past, is doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.
The nature of the probate process varies from state to state, and even varies from county to county.
Somewhere between a corporation and a partnership lies the limited liability company (LLC). This hybrid legal entity is beneficial not just for small-business owners but is also a powerful tool for estate planning.
What Is an Eligible Designated Beneficiary?
Some marriages end in noise and pain. Other marriages drift away quietly with the signing of documents and only a hint of acrimony.
If you think of estate planning as something only ultra-wealthy people need to do, you’re not alone. That’s a common misconception.
Estate planning attorneys will agree that it is better to die with a properly drafted trust, than to die without one. If you don’t have one, consider getting one.
Talking about death makes most of us uncomfortable, so we don’t plan for it. That’s a big mistake, because if you don’t have an end-of-life plan, your state’s laws decide who gets everything you own.
Having a child with special needs can come with all sorts of unique challenges from a financial and estate planning standpoint. Public benefits, for example, can play a huge role in anticipating how much money your child will need down the road in your later years, as well as when you’ve passed away.
There are many ways to implement a successful retirement strategy. One of them is to carefully map out a sensible financial plan and then stick to it through thick and thin. Another is just to wing it, using your intuition and gut feelings, and hope for the best.
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