Blogs
Wills vs. Trusts: What’s the Difference?
Proper estate planning ensures that your assets are distributed according to your wishes after your death. While there are plenty of ways to plan your estate, two common tools used in estate planning are wills and trusts. While wills and trusts similarly direct how your assets are handled, they differ significantly in certain areas. Understanding…
The Role of Insurance in Wealth Preservation
Wealth preservation is a critical part of estate planning. It ensures that your accumulated assets are protected and kept whole for your beneficiaries in case the worst happens. While many focus on wills, trusts, and investment strategies, insurance is often overlooked in a comprehensive wealth preservation plan. The right wealth management insurance solutions provide a…
Recent Changes in Estate Tax Laws and Their Implications
When building a comprehensive estate plan, it’s important to consider the estate tax laws applicable to your assets. These can dictate how much of your estate may be subject to taxes upon your death, significantly impacting the wealth that can be passed on to your heirs. Significant changes to estate tax laws have occurred in…
Key Considerations for Small Business Owners in Estate Planning
As a small business owner, how you approach estate planning naturally takes on a new dimension. Besides considering how to preserve your personal assets, you will also need to consider what will happen to your business. Both asset protection and business succession planning should be part of your comprehensive estate plan to ensure your chosen…
Creating a Lasting Legacy through Charitable Giving
Philanthropy refers to the concept of selfless giving to improve humanity. Throughout history, individuals and organizations have contributed to the advancement of society through acts of generosity, laying the groundwork for future generations to promote social and environmental betterment. Estate planning for charitable giving has long been a means for individuals to be remembered for…
Living Wills & Advance Directives
Few things in life are as critical as having a well-crafted plan. This philosophy rings especially true when it comes to healthcare decisions. The unpredictable nature of health issues means that circumstances can change in the blink of an eye. This is why it is paramount to have one’s healthcare preferences documented and legally binding.…
Preparing the Next Generation: Tips for Effective Succession Planning
Regardless of their size or industry, organizations must be ready to tackle the inevitable transitions that come with leadership changes. Such transitions are critical junctures that can either propel a company forward or severely hinder its progress, depending on how well-prepared the organization is. This is where the concept of succession planning comes into play.…
When and Why You Might Need Professional Trust Administration Services
Trusts have always been an essential part of estate planning. They help to ensure that assets are managed and distributed according to the grantor’s wishes. However, the complexities involved in trust management can require professional oversight. For those who find trust administration confusing, it may be helpful to consider professional trust administrative services. This blog…
Succession Planning for Family-Owned Businesses
Family-owned businesses have always been at the heart of our economy. They provide jobs, goods and services that support the families and the communities they serve. Regardless of their scale, every family-owned business will eventually face the challenge of transitioning leadership and ownership. This is why succession planning is crucial for their long-term sustainability. The…