After the rice is thrown and the champagne loses its fizz, it is time to start your married life. Which means, it is time to get an estate plan! Estate Planning for Married Couples. When it comes to estate planning, no two family situations are the same. This might be a first marriage for some, [...]
Many people believe that they do not have an “estate” because they do not have a lot of money or maybe even because they do not have children. What most people do not realize is everyone (every adult, that is) already has an “estate” for estate planning purposes. But not everyone has a plan for [...]
At Esser, Bradley and Khalsa, PPLC, we are all in favor of American independence and tackling jobs yourself. As long as you do not try to tackle drafting your own estate planning documents. Why? Because there simply are some jobs that are best left to the professionals. And doing your own estate plan is one [...]
We frequently get questions asking us about the difference between a will and a trust. While there are several important differences, here are just 2: Differences in Form and Purpose. Your will (“Last Will and Testament”) is a legal document that states your final wishes and gives instructions about how to divide up your property [...]
If you are going to die —and we all are—you might as well do it right. If you die without having made a will, who gets what is left entirely up to your state’s intestacy laws to decide. If you don’t know what that means or what the effect of the intestacy laws would be [...]
When someone dies, we talk about them having died “testate” or “intestate.” If a person dies “testate” that means that they had a will. If they die “intestate,” they died without a will. Why does it matter? Because if you die without a will, the law decides which one of your relatives will get your [...]
In the practice of trusts and estates, we love wills. But we love trusts even more. Why? Because trusts are one of the most flexible estate planning tools we have. Trusts and Estate Planning. Trusts can protect your property, save on estate taxes, and help you avoid probate. Trusts can do many things and they [...]
There are many things to know about trusts and estates— and how taxes affect your estate is one of them. Estate-related Taxes. Depending on the value of your estate, there may be some federal taxes that you do not have to deal with, but for the most part, you or your surviving beneficiaries may have [...]
In estate planning, much depends on making sure that your will is correct in all respects and error-free. So here are some things to keep in mind when it comes to writing your will. Wills Are Critical Documents. Your will is one of the most important documents you will ever execute in your life. A [...]
