What Is a Devise in My Estate Plan?
If you are thinking about creating an estate plan, you may hear some new and confusing terms. For example, an heir is a person who legally (under a will or ...
What Happens to Your Venmo, PayPal, and Apple Pay Accounts at Your Death?
It has been said that nothing ever dies on the Internet. While this dictum is typically used as a warning that what we put online may come back to haunt ...
Was Your Loved One a Book Lover? Think Twice Before You Throw Them Out
An individual’s belongings—such as jewelry, furniture, photographs, and books—sometimes slip through the cracks of their estate plan. While certain books may be gifted to a beneficiary in a loved one’s ...
Planning a Barbecue Is Like Planning Your Estate
For many, Memorial Day weekend signals the beginning of summer and enjoying warm-weather activities, including backyard barbecues with friends and family. Although a cookout may be an informal affair, planning is crucial to its success. This is true for estate planning, too. Just as preparations are necessary for a successful cookout, a little planning goes a long way to prevent a poorly designed estate plan (or no estate plan at all!) from leaving you and your loved ones in a pickle.
National Home Remodeling Month: How Remodeling Your Home Could Impact Your Estate Plan
Spring is associated with renewal, and as the weather gets warmer, many homeowners turn their attention to renovation projects. Each May, the home remodeling industry and the National Association of ...
Mental Health Awareness Month: How an Estate Plan Can Help Improve Anxiety
Roughly one in five US adults experiences a mental illness each year. Anxiety disorders are among the most common mental health conditions, affecting nearly one-third of adults at some point ...
Nonjudicial Settlement Agreements: The Good, the Bad, and the Ugly
Some trusts are irrevocable as soon as they are created, which means that, in general, the Trustmaker (the person who created and funded the trust) cannot terminate or modify it and take back the money or property that it holds. You may wonder why anyone would want an irrevocable trust, but irrevocable trusts can provide some very important benefits, particularly asset protection, tax minimization, and maintaining eligibility for government benefits. In contrast, Trustmakers may amend or revoke a revocable living trust at any time prior to their death, but at the death of one or both Trustmakers the trust becomes irrevocable.
Wilson Law Group, LLC – COVID-19
At Wilson Law Group, the health, safety, and well-being of our clients and staff are our highest priority. During this challenging time, we understand your concerns surrounding COVID-19 (coronavirus) and ...
How to Manage Your Basis “Step Up”
If you or someone you know has received an inheritance, it is important for you to understand how to manage your basis “step up.” A “step up” in basis is ...
How an Estate Planning Letter of Intent Can Help Your Family
Estate planning is an important task that everyone should undertake as it helps to protect your family and their financial future. However, estate planning can do much more than focus ...