The best place to store your estate plan documents is a safe yet easily accessible place. You should not leave your Estate Plan lying around on your desk or just placed in a closet in your bedroom! Safe Deposit Box Many people keep their Estate Planning documents in a safe deposit box. However, this might not be your best option. If the box is … [Read more...] about How Should You Store Your Estate Plan Documents?
How do I minimize the cost of estate planning? Many lawyers charge fees on an hourly basis. If this is the fee structure of your lawyer, it would be good if you invest some time in locating the documents relevant to your plan and formulating your wishes in writing. This will help you reduce the time spent with your legal advisor and lower the … [Read more...] about Estate Planning FAQs
When you’ve just started your life together, one of the last things on your mind is writing a Will, a Living Will, or drawing up a Power of Attorney, but these documents are important, even for newlyweds. Young people need to be prepared for the unexpected, and without the proper legal documents your new spouse could experience some incredible … [Read more...] about Must-Have Legal Documents for Newly Married Couples
Purchasing a life insurance policy can be tricky if you don’t understand the different types of policies that are available. As soon as you start shopping for insurance you will encounter a new vocabulary,, like “cash value”, “term”, and “whole life” insurance. It’s important to understand what types of life insurance policies are available, and … [Read more...] about Understanding Life Insurance
A will is a legal document that tells others how a person’s property will be dealt with upon his or her death. It names those who’ll inherit the assets (the beneficiaries) and designates a person or entity to oversee the distribution of assets, known as the executor or personal representative. Your beneficiaries can include spouses, children, … [Read more...] about What is a Will?
One of the most important decisions to make when setting up a living trust is to work out what property you want in the trust. It’s common to place virtually all of your assets (other than retirement plan assets) in the trust to avoid these going through probate, but you’ll need to know what type of trust you want before choosing which assets to … [Read more...] about Things To Consider When Setting Up A Living Trust
There are several types of trusts, some of which designate charities as beneficiaries. Two of these are the Charitable Remainder Trust and the Charitable Lead Trust. These trusts are set up to help charities and also minimize estate taxes. Depending on how they’re structured, they can benefit both the charity and other beneficiaries (such as … [Read more...] about Charitable Remainder and Charitable Lead Trusts: What’s the Difference?
New blog posts coming soon! … [Read more...] about Welcome to the Blog of Levine, Furman, & Rubin, LLC