If you are considering creating a living trust, then you also need to understand how to move your assets into it. The technical term is funding the trust. There are three principal options available to cover the different types of assets you might have. You can make...
Year: 2022
3 ways spouses hide assets
When splitting property in a divorce, some people can become sneaky. They no longer care about preserving trust with the person they are divorcing and look for ways to hide assets from them. Here are some of the ways people do this: They transfer assets to friends or...
How to tell your kids you are divorcing
What you tell your children about your upcoming divorce will depend largely on how old they are. If you have grown up and left home, they can probably cope with a bit more reality than if they are in kindergarten. Regardless of that, there are a few rules that apply...
4 roles you need to fill in your estate plan
The primary thing you might think of when you mention estate planning is the transfer of assets. Yet that is only part of it. Another crucial object of estate planning is to put a team of people in place in case several situations occur. Here are four crucial roles to...
3 solutions for your home in your estate plan
Many people spend a lifetime investing in their homes, making real estate their most valuable asset. You want to use that value for something meaningful when you die, but you are not sure of the best way to achieve that goal. There are numerous possible approaches to...
Tips to help you cope with a California divorce
Divorce is emotional and stressful and may turn your life upside down. While there are many legal issues you must deal with, it’s also important that you take care of yourself. If you have children, this is even more important. Due to the impact that divorce can have...
2 ways inheriting a house can turn into a tax nightmare
Owning a house is part of the American dream. It is also a way to take a monthly recurring expense and turn it into personal worth. Rather than spending hundreds of dollars every month to pay rent, homeowners slowly accrue equity as they make payments toward their...
Important estate planning ideas for a new parent
It’s hard to think about death when you’ve just brought new life into your home, but it’s important to make sure that your new baby’s future is protected. While no one wants to imagine their child growing up without them, you want to be certain that they will be...
Making sure that your will is valid
A final will is a crucial part of any estate plan. This document can ensure that your assets are inherited by the people who you want to benefit from them. When drafting a will, there are a few crucial components to consider. If the following factors are not included...
Can you use your final will to forgive your debtors?
Are you the kind of person that enjoys helping those close to you? If yes, then you may have accumulated a small fortune in loans and debts owed to you or your estate. In the interest of helping and giving, you might want to forgive those who owe you. On the other...