Trusts are an essential part of any estate plan, and it is crucial to make sure that you set them up correctly. If you’re not careful, you could end up with a trust that is not valid and does not serve its intended purpose. Outlined below are some common mistakes...
Estate Planning
3 important considerations for estate-planning vineyard owners
Your vineyard may be the result of a long-held dream come true after decades of hard work, or it may be a legacy passed down through your family for generations already. However you acquired the vineyard, you may have specific intentions for the property and the...
Why do you need an advance health care directive?
Creating an estate plan is the responsible thing to do as an adult. There are many parts of this that have to be considered. While most people are familiar with a will, having an advanced health care directive is just as important. Learn more about what this does and...
What is a legacy trust?
As people live longer and accumulate more wealth, they look for additional ways to retain that wealth, which they hope will last for years to for their beneficiaries. A dynasty trust is one such estate planning tool that creates a tax-free foundation of wealth,...
Is your trust flexible enough for the future?
When creating a trust, you want to make sure that it really addresses all of the potential future outcomes for your heir. If the trust is too specific and doesn't have any flexibility, that can create some unforeseen problems. For instance, perhaps you want to use an...
You can leave a legacy for a child with special needs if you plan
Estate planning often involves a careful analysis of your family circumstances. What you leave for each of your children will reflect not only your overall assets but your child's character and your relationship with them. Certain situations require more careful...
Why you should consider avoiding the probate process
Probate is the court-administered process your will goes through before being distributed to the beneficiaries. On the face of it, probate may sound like the right way to handle your estate once you are gone, but it may not always be so. Here are some of the reasons...
3 important steps for estate planning as a vineyard owner
Owning a vineyard is more than a full-time job. It may also be a passion and can be a way of life. From maintaining the right genetics for your fruit to crafting unique blends based on the harvest each year, you probably take great pride in your business. You would...
If you have pets, you need a pet trust in your estate plan
Even people who give a great deal of thought and time to their estate planning can neglect to ensure that their pets will be cared for after they die or become incapacitated. They get a “promise” from a family member or friend that they’ll give them a good home....
The pros and cons of a revocable living trust
Most people recognize that they need a will, a financial POA and a health care directive and proxy. But many people are not sure whether or not a revocable trust is a good idea given their situation. A revocable trust is created during the lifetime of the maker of the...