A trust is not only a tool for the wealthy. In addition to serving many functions, they solve specific problems relating to the dynamics of families that have little to do with wealth. Do you want to keep your affairs…
For high-net-worth families, many legal strategies are employed to preserve wealth and minimize taxes. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges and opportunities…
Think about being ill and having to determine whether or not you can afford medical care. Unfortunately, for many Americans, seeking medical care hinges on affordability rather than medical necessity. About half of US adults have gone without or delayed medical care…
It is common for people to seek wealth transfer and estate planning strategies that not only preserve their assets but also benefit them financially during their lifetimes. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique…
When it comes to transferring property or money to their children, most parents prefer to treat their children equally. But sometimes, parents intentionally choose to not leave anything to a child, and the reasons for doing so may vary. One…
A steady path can over time make you a self-made millionaire if you are part of the millennial generation or younger. It does not require a unique set of skills, specialized knowledge, or even excessive risks. Americans who achieve millionaire…
In an estate plan, assets are distributed in accordance with your wishes, and your loved ones are provided for after your death. It requires organization and strategy and begins with five key legal documents that can address many areas of…
A gun trust allows individuals to own firearms in a legal manner, allowing them to share access to firearms with others while remaining compliant with the law. This approach is beneficial for those who own restricted firearms or firearms regulated…
Wills, trusts, and transferring assets are typically thought of when people think of estate planning. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about what…
As a result of technological advancements in self-monitoring medical devices, telehealth, and smart homes, many aging Americans are able to remain in their homes for longer and live more safely. Elder law and at-home medical technology uses can intersect in…