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Category: Estate Planning

Estate planning services refer to the process of managing and distributing one's assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.

Are You Neglecting Your Estate Planning?

Are You Neglecting Your Estate Planning?

POSTED ON: December 20, 2023 BY: Troy Werner
Estate planning is a vital part of financial management that often gets overlooked.
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What Should I Know About a Trustee?

What Should I Know About a Trustee?

POSTED ON: December 19, 2023 BY: Troy Werner
A trustee is a person or entity who’s appointed to manage assets held in trust on behalf of a third party. There are few formal restrictions on who can serve as a trustee.
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The Differences Between a Living Will and a Last Will and Testament

The Differences Between a Living Will and a Last Will and Testament

POSTED ON: December 18, 2023 BY: Troy Werner
Estate planning legal matters are already confusing enough, so it certainly does not help to have similar names for related but completely different documents.
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Using Living Trusts to Protect Your Business Assets

Using Living Trusts to Protect Your Business Assets

POSTED ON: December 15, 2023 BY: Troy Werner
Business owners work hard to build their assets and establish their companies. Therefore, it’s essential to ensure that these assets are protected for the business’s continuity and the owner’s peace of mind. One way of safeguarding these assets is by utilizing a living trust. This article discusses how a living trust can protect your business assets. What Is a Living Trust? A living trust is a legal entity created to hold assets, often for the benefit of certain individuals. It’s called a “living” trust because it’s established while you’re alive, unlike a testamentary trust, which comes into effect upon your…
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What Does the Executor of an Estate Do?

What Does the Executor of an Estate Do?

POSTED ON: December 14, 2023 BY: Troy Werner
Dealing with death is never easy and overseeing the estate can be complicated. However, staying organized can help you manage things smoothly.
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Strategies to Build and Preserve Generational Wealth

Strategies to Build and Preserve Generational Wealth

POSTED ON: December 13, 2023 BY: Troy Werner
Generational wealth is a topic of immense importance. It represents the financial legacy one generation leaves for the next, enabling families to build a stable foundation for their descendants. However, preserving this wealth for future generations requires careful planning and management. This article delves into the intricacies of preserving generational wealth and the strategies wealthy families employ to ensure that their assets last for generations. What Is Generational Wealth? Generational wealth refers to assets passed down from one generation to the next. This can include property, money, stocks, businesses and other valuable resources. Many wealthy families aim to grow their…
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Pitfalls of Do-It-Yourself Estate Planning: Should I Use a DIY Trust?

Pitfalls of Do-It-Yourself Estate Planning: Should I Use a DIY Trust?

POSTED ON: December 12, 2023 BY: Troy Werner
Estate planning is a critical component of financial stability, ensuring that your wishes are honored in life and after death. In this digital age, online platforms offering do-it-yourself legal documentation have gained popularity, tempting many to wonder, "Should I use a DIY trust?" While these services seem convenient and cost-effective, they often fall drastically short of a reliable estate plan created by a seasoned attorney. Using a DIY trust can lead to numerous legal complications, emotional distress and financial loss. Do You Need a Will or a Living Trust? Understanding the Difference A living…
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Reasons to Review Your Will: Ensuring That Your Estate Plan Reflects Your Current Wishes

Reasons to Review Your Will

POSTED ON: December 11, 2023 BY: Troy Werner
Reviewing your will is something that many people know they should do but often put off. However, various life circumstances and legal changes can significantly impact your estate planning needs. Ensuring that your estate plan, including your will and other estate planning documents, reflects your current situation is essential for peace of mind and securing your beneficiaries’ future. Why Is it Crucial to Review Your Will Regularly? Your will is not a static legal document. As your life changes, so also might your wishes regarding how your assets are distributed after your death. It’s common for relationships, financial circumstances and…
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Select Estate Planning for High-Net-Worth Individuals Estate Planning for High-Net-Worth Individuals

Estate Planning for High-Net-Worth Individuals

POSTED ON: December 8, 2023 BY: Troy Werner
Navigating the complexities of estate planning is particularly crucial for those with substantial assets. High-net-worth individuals and families often face unique challenges in securing their legacy, managing estate taxes and ensuring that their wishes are honored. Understanding high-net-worth estate planning strategies can make a significant difference in preserving wealth for future generations. In this article, we delve deep into the nuances of estate planning for high-net-worth individuals, emphasizing why it’s indispensable and how proper estate planning can secure one’s financial future and intentions. Why Is Estate Planning Crucial for High-Net-Worth Individuals? High-net-worth individuals often have diverse investment portfolios, real estate…
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Top Tips for Estate Planning

Top Tips for Estate Planning

POSTED ON: December 7, 2023 BY: Troy Werner
There’s a lot to keep up with when estate planning. These tips could help, from updating beneficiaries after changing your plan to understanding will-substitute options, like transfer on death.
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