One of the most challenging aspects of adulthood is the role reversal that occurs between elderly parents and their adult children. It’s very hard to watch the parents who taught you to sink a basketball for three points and how to drive a stick-shift struggle with...
Charitable trusts are tools used in estate planning to support charities while still benefiting family or personal financial goals. Two common types are charitable remainder trusts (CRTs) and charitable lead trusts (CLTs). Although they sound similar, they serve...
When you’re drafting a prenup, you’re essentially addressing a divorce before it happens. If you never get divorced, it doesn’t matter—you simply don’t use the document. But if you do, then some decisions have already been made. For the most part, people use...
Once people turn 18, they are legal adults. They have certain responsibilities and rights. Most of those rights persist definitely. Anyone who is a legal adult can theoretically establish a will or draft other estate planning documents. They can select beneficiaries,...
An incentive trust gives you a chance to provide your beneficiary with specific goals. Maybe they can access the trust after they graduate from college. Perhaps they can only access it as long as they’re gainfully employed. These trusts are often used to influence...
You’ve been thinking about disinheriting one of your family members, specifically because you don’t trust them to handle that inheritance properly. Maybe they’ve struggled with drug addiction issues in the past, or maybe they just make frivolous purchases on a...
Respecting a loved one's personal wishes and independence is critical for a healthy relationship dynamic. However, people sometimes need to take action to protect others who cannot act in their own best interests or manage their own affairs. Concerned parties can seek...
Caring for a loved one with special needs involves more than daily support. It also means planning for their well-being in the future after you’re gone. A special needs trust (SNT) is a powerful tool that can provide financial security without jeopardizing their...
When you draft a power of attorney, you’re turning over your rights to make certain decisions to someone else. For instance, if you use a financial power of attorney, you may give them the ability to pay your taxes or your bills, or simply to access your bank account....
An advance health care directive is an estate planning document that provides guidance regarding medical treatment. Individuals who experience incapacitation or medical emergencies can rely on their advance directives to guide the care that they receive. People can...
