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When beginning any type of planning, you usually start with some preliminary questions. Estate planning is no different. When you begin the process, your estate planning attorney will likely ask about your family members, the accounts and property you own, and whom you want to include in your estate plan. As you dive deeper into […]

Fitness icon Richard Simmons, known for his flamboyant personality, high energy, and trademark attire, passed away in July 2024 following a fall at his Los Angeles home. Because of a legal dispute between his longtime housekeeper, Teresa Reveles Muro, and his brother, Leonard (Lenny) Simmons, the estate of the Sweatin’ to the Oldies star is now

Retirement is supposed to be a carefree period of enjoyment and fulfillment. However, retirement has become a daunting prospect for many Americans, full of anxiety and financial uncertainty. Longer lives and rising costs make the idea of retiring in one’s 60s increasingly unrealistic. But very few people, even those who enjoy working, want to work

There are more ways to create wealth today than ever before. Whether you are working a traditional nine-to-five job and investing in the stock market, a full-time investor taking advantage of online trading platforms and international markets, running an online business that you hope becomes your main income source, or a serial entrepreneur, the landscape

Remember Your First Line of Defense: Insurance The modern insurance market dates to seventeenth-century London, where merchants reeling from the Great Fire of London started pooling funds to cover fire losses. Today, this same basic concept—pooling risk to protect individuals and businesses from catastrophic loss—underpins nearly every sector of the global economy. The US insurance

According to a Centers for Disease Control and Prevention survey, there were more than 670,000 divorces1 and more than 2 million marriages in 2022. Divorce is a common life event that many Americans face during their lifetime. Some states have laws that automatically end an ex-spouse’s appointment as decision-maker in their spouse’s estate plan with the

Consider the following story: Beth’s divorce from her husband was recently finalized. The most valuable things she owns are her employer-sponsored retirement plan and her life insurance policy. She has opted to use the beneficiary designations as her only form of estate planning and updated the primary beneficiary designations to name her two minor children. She does not want her ex-husband to

When it comes to protecting your unmarried partner, there are several options to consider. Depending on the value of your money and property, your desired level of protection from your partner’s creditors, and other factors unique to your situation, one or more of these strategies may be beneficial. A word of caution: regardless of what

Do not let constant political and financial speculation prevent you from making tax-free annual exclusion, medical-payment, and educational gifts to or for the benefit of your loved ones. Make Annual Exclusion Gifts Annual exclusion gifts are transfers of money or property in an amount or value that does not exceed the annual gift tax exclusion.

Americans often prefer to stay busy. When we are not working, many of us turn to hobbies to keep us engaged and productive. We spend hours each day on our hobbies and leisure activities. Over the course of a lifetime, this time adds up to a significant investment. Our hobbies, passion projects, and pursuits may