Recent Posts
Bankruptcy – Get Out of Debt With a Fresh Start
All too often people start with a small amount of debt that somehow spirals out of control. Bankruptcy is a tool to help people get out of debt or manage that debt effectively. There are different types of bankruptcy proceedings available and the right type of...
Scams Targeting Seniors
Now more than ever, financial scammers are targeting seniors through sophisticated ploys. Seniors tend to be targeted because they are often more trusting and compassionate. Here are 4 things for seniors to be on the lookout for:...
Qualified Personal Residence Trust
The Qualified Personal Residence Trust (QPRT) is designed to hold title to the client's principal residence or vacation home, whereby the client gives the property away to his children, but retains the right to use the property...
Horses and Divorce
Unfortunately, there is no way to guarantee that a horse will be awarded to a certain spouse upon a divorce. However there are a number of things a person can do to increase his or her chances in being awarded the horse upon a...
Annual Communication and Update System: What can I do after I complete my Estate Plan?
It is often recommended that a person reviews his or her Will or Estate Plan at least periodically, or as circumstances change. Below are some circumstances which may occur in a person’s life that can warrant a consideration of updating a Will or Estate Plan: A change...
Managing Someone’s Assets
There are a number of ways in which a person may manage the assets of another. The choice will depend on the type and value of the assets, and whether the person for whom they are being managed is competent or incompetent. If circumstances change, the form of...
Tricky Items To Inherit
People often hold a number of different assets or property when they pass away. Some assets are trickier to pass down to the next generation than others. Here is a list of some of the trickier items to pass down: Vacation homes Artwork Guns Airline miles Pets...
The ‘I Love You’ Will: Be careful, it could lead to a broken heart!
An 'I love you will' is a phrase used in estate planning to describe a Will where each spouse gives their assets to each other upon death, and then to their children. A shortsighted affair - It is simple and straightforward to set up You can appoint a Guardian for...
What’s New for 2022?
Update In The Law In 2022 the federal gift, estate and Generation Skipping Transfer tax applicable exclusion amounts will increase to $12.06 million per person ($24.12 million for a married couple). It is important to note that there is a sunset provision on this tax...
Durable Power of Attorney: Benefits and Concerns
A Durable Power of Attorney is a legal instrument by which a person, as the principal, appoints another person to serve as his or her agent. A benefit the Durable Power of Attorney has is that it gives the agent authority to perform specific acts on behalf of the...