Estate planning is for everyone, regardless of your financial situation. Even someone who has only minimal possessions like a car and/or checking account, needs advance planning. What is estate planning? Estate planning is most simply a plan for who gets your stuff, how much of they get, and when they get it. There are many…
“In the end, it’s not the years in your life that count.It’s the life in your years.” – Abraham Lincoln It is important to live our lives to the fullest and to embrace all that life has to offer. This is true for any age at any time. Tomorrow is National Senior Citizens Day. It’s…
Is Estate Planning Important? The process of estate planning is more than just creating a will. Effective estate planning is vitally important. Estate planning minimizes income and estate taxes while also providing answers to questions regarding protecting your assets, medical treatment if you become incapacitated, and ensures money for anticipated expenses following your death. There is…
Celebrity Fever Audrey Jean Knauer, who died in 1997, left $300,000 to her favorite celebrity, Charles Bronson, whom she had never met in person. Her family contested the legality of the will, but in the end, Bronson ended up taking $150,000 from the stranger he had never met before, claiming that he planned to donate…
A revocable living trust is an artificial entity used as an estate-planning tool that manages your assets during your lifetime and distributes them upon your death. It is called a revocable trust because you may modify or terminate the trust during your lifetime, as long as you are not incapacitated. A trust is setup by…
