If you or a loved one is living with a chronic disease, such as Parkinson’s, multiple sclerosis, or Alzheimer’s, your estate planning likely should reflect that challenge.
It’s a well-documented fact that most people do no estate planning. Of those who do, the majority use a last will to pass their estate to a spouse or divide it among their children.
You may have a will or a full estate plan that was prepared by an attorney in another state, or perhaps you haven’t yet taken the important step of planning your estate.
The perception is that trusts are for the very wealthy and that they cost a ton of money to set up. The reality is a trust can be a fantastic tool for the average person or couple, because it simplifies things in the event of your death.
Make a mistake when inheriting an IRA and you might face tax consequences. Make a mistake when inheriting a gun collection, and there's a chance you could face felony charges. Therefore, anyone who owns a gun, may want to consider adding a gun trust to their estate plan.