The right to keep and bear arms is one of the most hotly debated topics on the American agenda. Some people love guns while others detest them. If you happen to be one of the former, then you may have a significant collection of firearms as part of your estate assets. If so, a firearms trust may be an estate planning tool for you to consider. A firearms trust operates in the same basic manner as any other trust, except it is funded with firearms. The benefit to creating a firearms trust is that … [Read more...] about Is a Firearms Trust Right for Me?
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Be Aware of Elder Financial Abuse
There are some problems that are swept under the rug for one reason or another, and elder financial abuse is one of them. This issue has always existed, but up until recently, there was very little known about it. The matter is hard to analyze, because the vast majority of cases go unreported. In fact, a recent Elder Abuse Prevalence Study found that only one case out of every 44 is actually reported to the authorities. Why would so many cases of elder financial abuse go unreported? In many … [Read more...] about Be Aware of Elder Financial Abuse
Will My Heirs Be Forced To Pay an Inheritance Tax
Will My Heirs Be Forced To Pay an Inheritance Tax from Timothy Murphy Many people are under the impression that an inheritance tax and an estate tax are the same thing. As we stated previously, the estate tax is applied to the entire taxable portion of an estate. Learn more about heirs be forced to pay an inheritance tax in this presentation. … [Read more...] about Will My Heirs Be Forced To Pay an Inheritance Tax
Is Probate Always a Problem?
When you look into the subject of estate planning, you will hear a lot of things about probate. This is the process of estate administration. If you use a Will to state your final wishes with regard to your personally held property, the Will would be admitted to probate after you pass away, except for very modest estates. The probate court would supervise the administration of the estate. In the Will, you name an executor, and this individual would handle the business of the estate under the … [Read more...] about Is Probate Always a Problem?
A Look at Asset Protection for Landlords
When you have been able to accumulate resources, you have to protect what you have earned. Without question, we live in a litigious society, and there are always those who are willing to sue. For this reason, asset protection is a top priority for some people. Anyone can be the target of a lawsuit, so you should remain vigilant regardless of your occupation. At the same time, people who engage in certain endeavors are particularly vulnerable to lawsuits. Landlords would fit into this … [Read more...] about A Look at Asset Protection for Landlords
Estate Planning: Explore Your Options
Estate planning is a responsibility that many people place on the back burner. Clearly, contemplating your own mortality may not be the most pleasant pastime in the world, but you should confront this reality head-on and take steps to protect your family. If you do not look into the subject thoroughly, you may assume that you should use a last will as your asset transfer vehicle. For some people with very simple situations, a will could suffice, but there are many other options. A will is not … [Read more...] about Estate Planning: Explore Your Options
Should I Buy Long-Term Care Insurance?
When you look into the statistics, you find that many American senior citizens will need long-term care at some point in time. If you have always been healthy, you should not be overconfident, because healthy people typically live longer lives. As you reach an advanced age, it becomes more and more likely that you will need long-term care. The Medicare program will not help with long-term care costs. Medicare will pay for rehabilitative care after an illness or an injury, but it does not pay … [Read more...] about Should I Buy Long-Term Care Insurance?
What Is an Incentive Trust?
You have the power to plan your estate in a customized manner. Estate planning is not necessarily an exercise in slicing up a pie into different size pieces as you facilitate lump sum asset distributions after your passing. In many cases, a windfall of money can do more harm than good on some levels. There are probably some people on your inheritance list who are quite well-established in their own right, but there could also be younger family members who have not reached their full potential … [Read more...] about What Is an Incentive Trust?
Five Estate Planning Issues Everyone Should Consider
There are some estate planning objectives that are rather self-evident. Clearly, you want to make sure that your assets get into the hands of your loved ones after you pass away, but there are many different ways to go about it. You should educate yourself and act in an informed manner when you are making estate planning decisions. With this in mind, we will look at five estate planning issues that everyone should consider in this blog post. Taxation There is a federal estate tax that can … [Read more...] about Five Estate Planning Issues Everyone Should Consider
Long-Term Care: Don't Be Overconfident
People are increasingly health conscious, especially here in Northern California. If you have been taking good care of yourself as you enter your senior years, you may be confident about the future with regard to your health. This can lead to overconfidence about the possible need for long-term care at some point in time. If you think about it objectively, if you make the right choices with regard to your health, it is likely that you will live a long life. Statistically speaking, according to … [Read more...] about Long-Term Care: Don't Be Overconfident
