Gifting can be a strategic part of estate planning because it allows individuals to reduce the size of their taxable estate while providing financial support to their beneficiaries. While people are free to gift what they want to who they wish to, specific limits...
With everything you have to deal with after a loved one’s death, you’re probably not thinking about the possibility of identity theft. However, every year in the U.S. alone, approximately 2.5 million people become the victims of identity theft after they pass away. ...
An executor is a person named in someone's will who -- once confirmed by the court -- oversees the distribution of their estate. There’s a lot that an executor is expected to do. If you find yourself in this position, here's where to start: Locate the deceased's last...
You must make many critical decisions when creating your estate plan. One such decision is choosing someone to carry out the wishes expressed in your documents (distribute property, pay debts, etc.). But how do you choose an executor? Start by writing down a list of...
Conversations about important topics often get pushed aside not out of malice but because people are busy and conversing about serious matters generally takes time and a thoughtful approach. One such crucial topic is discussing life insurance with aging parents. While...
Setting up an estate plan isn't something most people look forward to doing, but it's a necessary step in ensuring your assets are distributed according to your wishes. The revocable trust is a popular tool that offers flexibility and control. It's an arrangement you...
You may hear or read unfamiliar words and phrases when you enter the realm of estate law following the death of another. Although these terms may sound similar, they typically have entirely different meanings. For example, the phrases probate administration and estate...
The area around Reno and Lake Tahoe as well as Las Vegas and its surrounding region feature an abundance of senior communities. They’re often referred to as “55+ communities” since that’s typically the minimum age for residents. They’re popular among seniors healthy...
When you first made your estate plans, you may have thought it was a one-and-done process. However, many people don’t realize that estate planning is a life-long process. In other words, you may need to make considerations later in life that affect your original...
When you’re getting older, it’s only natural to let your thoughts wander to what will happen to your family after you die – and a lot of older people worry about what effect their leftover debts will have on their adult children. They don’t want their liabilities to...