Charitable Giving And Vision For The New Year

When it comes to goal setting for the New Year, effective giving is one way to feel richer, according to MoneySense. As such, philanthropic advisor Malcolm Burrows suggests outlining a vision statement for what one would like to accomplish. Whether simple or complex, people need a way of defining their passions, and giving to charities  … Read more

Qualified Personal Residence Trust (QPRT)

For purposes of a federal gift tax and estate tax, a Qualified Personal Resident Trust, or QPRT is an irrevocable trust that removes the value of a primary residence or a second home from an individual’s taxable estate. To be clear, once an agreement has been signed for an irrevocable trust, it cannot be changed.  … Read more

Probate: Do You Know The Basics?

While probate laws and customs have changed over the years, its primary purpose is the same—people submit their intentions regarding the transfer of their property at the time of their death, usually in the form of a will. Thus, when a person dies, their property is collected, remaining debts are paid accordingly from their estate  … Read more

Establishing A Special Needs Trust

Created specifically to benefit those with physical or mental disabilities, a special needs trust outlines the affairs of a beneficiary in regards to their needs in the future. This type of trust can last as long as it is needed, and this usually means that it will continue until the beneficiary dies or until funds  … Read more

Warning Signs of Financial Elder Abuse

Protecting your aging parents is not an easy task. Not only are they susceptible to physical harm as they lose mobility and mental sharpness, but they are also at risk for financial harm. This often takes the form of financial abuse, or someone else exploiting them for their own financial gain. If you are trying  … Read more

Is It Your Turn To Care?

For those of us with aging loved ones, particularly aging parents, there comes a time when it’s our turn to care. From health and wellness concerns to financial decisions and questions regarding one’s estate, it’s important to weigh in on these matters before they become urgent. Thus, while some loved ones age well at home,  … Read more

Shielding Your Assets

For business owners and other professionals, there are a number of vulnerabilities associated with taking responsibility for others and participating in various transactions in their respective fields. From medical malpractice to lawsuits stemming from business disputes, injuries sustained on personal property or liability involving misconduct, those conducting business or providing a service can benefit from  … Read more

Are You Eligible For Aid And Attendance?

Though not as well known as other military benefit programs, Aid And Attendance is of great value for qualified veterans that are able to receive a VA pension. The idea behind the program is to provide financial assistance (in addition to a primary VA pension) to veterans and survivors that require daily help from another  … Read more

Aging Successfully—Will Your Support Network Look Out for Your Interests?

On television, childless older adults can be portrayed as carefree people, living without demands from dependents. In reality, having no children—or having relatives who aren’t available or reliable enough to handle your affairs—can leave you and your estate vulnerable if you become incapacitated. For this reason, one of your most crucial activities in life will  … Read more

A Revocable Living Trust Versus A Will: Differences You Should Know About

While both revocable living trusts and wills allow individuals to name beneficiaries for their property or estate, they serve different purposes. As an estate-planning tool, a revocable living trust is a document that can be changed according to one’s wishes or circumstances while he/she is living. Yet, they are mostly used to avoid the need  … Read more