Most clients understand that revocable living trusts are valuable components of an estate plan. But when asset protection is a primary goal of your estate plan, then revocable living trusts are not necessarily the way...
Probate is simply the administration of an estate through the court system after someone’s death. Nearly every estate is required to pass through probate before heirs can receive their inheritance. While the purpose of this...
Establishing a Future Guardianship For Your Children from Anderson, Dorn & Rader, Ltd. One of the common reasons parents put off planning for guardianship of their children is that they are looking for the right...
The Value of An Irrevocable Trust from Anderson, Dorn & Rader, Ltd. There are two types of irrevocable trusts: irrevocable living trusts and testamentary trusts. They both serve different purposes. An irrevocable living trust, also referred...
Trusts are an important type of agreement, characterized by trust and confidence. The agreement is made between a trustee and the person who created the trust, known as the grantor. The trust agreement provides the...
There are three common reasons most people choose to avoid probate. Probate is a very public process, it can be rather expensive and, for some, it can take a long time. When trying to decide...
While most people know that retirement planning is important, many do not have a good idea of what a retirement plan actually is. A comprehensive retirement plan is essential if your goal is to retire...
Traditional IRAs and retirement plans sponsored by employers are great retirement investment tools. While there are benefits associated with these types of retirement accounts, Roth IRA benefits should also be considered before determining which type of...
Taxes on inheritance are imposed on property received from someone else’s estate after their death. The federal government does not impose an inheritance tax. Instead, inheritance taxes are imposed at the state level only. But,...
You may have heard the term “intestate” or “intestacy” before, but wondered what it means. As your estate planning attorney can explain, the term “intestate” simply means dying without a will. So, intestate succession refers...
