In today’s digital age, online platforms have made various services easily accessible, including estate planning. LegalZoom, a popular online legal service provider, has gained significant attention by offering affordable and seemingly convenient estate planning solutions. However, relying solely on LegalZoom for estate planning can come with a host of disadvantages. This article will shed light on the potential pitfalls of
Trust Administration: Streamlining, Protecting, and Guiding Asset Management
In this example, the deceased individual also referred to as the grantor, created a trust for the benefit of himself and his family. The Trustmaker transferred his assets into a trust and established the terms and conditions that govern its operation. This includes decisions on how the trust assets should be managed,
Estate planning is not just a prudent financial decision; it is a critical step that holds profound importance for veterans and active military members. These brave individuals face unique challenges and risks in their service to our country, making planning for the future even more essential. By taking control of their financial affairs and ensuring the well-being of their loved
If you’re like a lot of people who have just retired or are nearing retirement age, you’re probably wondering (and let’s face it – maybe a little worried) about what you are going to do with all the free time you’ll now have.
But here’s an idea: Think of retirement as the next chapter in your life. Instead of looking
In the rush of daily life today, planning for anything more than a few days in advance can be difficult. But when it comes to your financial goals, including estate planning and asset protection, planning ahead is essential. It’s also key to becoming a quiet millionaire.
A quiet millionaire is someone who sets financial goals, budgets, saves, manages assets and
If you are a business owner you understand the importance of valuation, as well as what supports and drives it. Valuations can help owners assess opportunities and costs, plan for growth and transitions, and develop exit strategies.
Simply put, a business valuation represents your company’s total worth or the economic value of your business. Valuations are used for a variety
Estate planning decides who will be responsible for your estate in the event that you die or become incapacitated and can no longer make decisions for yourself. A comprehensive estate plan allows you to leave important instructions relating to the distribution of your assets when you die.
Your estate plan can also include instructions pertaining to real estate, personal property,
The Durable Power of Attorney (DPOA) and a Health Surrogacy or Advanced Health Directive are used for situations where you can’t make decisions for yourself, explains Parent Your Parents recent article entitled “What You Should Know about Durable Powers of Attorney and Health Surrogacies.”
A Durable Power of Attorney (DPOA)
This is written authorization to represent or act on another’s
The most frequently asked questions about guardianship are when it’s needed, how the process works, and whether there is a way to avoid it. The idea of guardianship may feel troubling if you’ve never known anyone who needed a guardian, says a recent article, “Guardian process can be lengthy, difficult” from The News-Enterprise.Simply put, guardianship is a court proceeding restricting
A Qualified Terminable Interest Property Trust, or QTIP, is a trust allowing the person who makes the trust (the grantor) to provide for a surviving spouse while maintaining control of how the trust’s assets are distributed once the surviving spouse passes, as explained in the article “QTIP Trusts” from Investopedia.QTIPs are irrevocable trusts commonly used by people with children from