How You Can Create an Estate Plan That Reflects Your Values


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How You Can Create an Estate Plan That Reflects Your Values

While you prepare your estate plan, you may find it important to do so in such a manner that is consistent with your faith and values. In fact, passing on these values to the next generation may be just as important to you as the wealth and assets you will be distributing. Here are some […]

Why You Should Devise a House in Your Estate Plan Rather Than Gifting While You’re Alive

As you age, you may consider giving your home outright to an adult child, or adding them to the deed. However, this typically is not your smartest move if you wish to transfer ownership of the property. While transferring your house to your children while you’re alive helps them avoid probate, gifting a house can […]

Estate Planning is Critical for People in Early Stages of Dementia

Dementia is a disease characterized by memory deterioration, changes in personality and generally worsened cognitive function. The number of people in the United States with dementia has been on the rise in recent years, particularly as the baby boomer generation advances in their senior years. Dementia can be a debilitating disease, and at a certain […]

Funeral Costs Can Be Deducted from Estate Taxes

Only estates worth more than the federal estate tax exemption are required to file a federal estate tax returns. For this reason, most can’t claim estate tax deductions. Estates that are subject to the federal estate tax, however, can use various deductions, including funeral expenses, to reduce the estate’s overall taxable income. Funeral expenses are […]

The Pros and Cons of Transfer on Death Accounts

The Transfer on Death (TOD) account or a Pay on Death (POD) account is a type of account often used for estate planning purposes due to its ability to bypass the probate process. Any assets placed in the account pass on directly to the beneficiary named by the owner of the account. Here’s a quick […]

“Per Stirpes” Designations

“Per stirpes” is a method of distributing shares of an estate where the share of a deceased named beneficiary is divided among a person’s descendants. How it works Per stirpes translates to “by branch” in Latin. In a will, there may be the following language: “I leave [insert possession] to my descendants, per stirpes.” For […]

How to Leave Money for a Charity in Your Estate Plan

Do you have a charitable organization you care about? You may wish to leave a bequest to this organization through your estate plan. There are a variety of methods you can use to accomplish this while maximizing the tax benefits. Here are just a few examples: Direct bequests: You can use your will or a […]

Estate Planning Considerations for People Without Children

Just because you do not have children doesn’t mean you don’t have a reason to plan out your estate. If you care at all about what happens to your assets after your death, it is important to spend some time considering your affairs. Here are just a few of the most important considerations for you […]

The Benefits and Limitations of Owning Property in Joint Tenancy

Joint tenancy with right of survivorship is a popular property ownership method that allows for probate avoidance. Any property owned in this format automatically passes to the surviving owner or owners of the property without having to go through the probate process. Here are just a few of the primary advantages of owning property in […]

What to Know About Avoiding Probate in Florida

One of the main goals of estate planning is to avoid the probate process as much as possible. Probate can easily get drawn out, resulting in higher court expenses and a longer time passing before heirs are able to receive their inheritance. Here’s a quick look at some of the most important things to know […]