Estate & Wills

Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy sounding name, it’s a fact that a tremendous amount of wealth will pass from Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history.

If you are fortunate enough to have a family vacation home, you know the emotional value it holds for every member of your family. Many cherished family memories are rooted in a special place, which makes it important for current and future generations to preserve it properly.

People often come to us curious—or confused—about the role trusts play in saving on taxes. Given how frequently this issue comes up, we’re going to explain the tax implications associated with different types of trusts in order to clarify this issue. Of course, if you need further clarification about trusts, taxes, or any other issue related to estate planning, meet with us, for additional guidance.

If a family member or friend has asked you to serve as trustee for their trust either during their life, or upon their death, it’s a big honor—this means they consider you among the most honest, reliable, and responsible people they know.

You bring your children into the world with love. You raise them with love, caring and concern. Why should anything be different even if you are no longer here? If you’re concerned about leaving your belongings to them safely, responsibly and meaningfully, you should create an estate plan to pass on your legacy of love as well as your assets. But, if your plan simply leaves what you have outright and directly to your children, you may be leaving behind a different type of legacy, the outcome of which is contrary to your views as a parent.

Part 2

 To spare your family’s time, cost, and stress associated with probate, our last article in part one of this series, “Probate: What It Is & How To Avoid It”, we explained how the probate process works and what it would entail for your loved ones. Here in part two, we’ll discuss the major drawbacks of probate for your family, and further outline the different ways you can help them avoid probate with wise planning.