If you do not have a revocable living trust and are using a simple will to pass your estate to your loved ones at your passing, the executor named in your will is going to have to open up a court proceeding in order to transfer your assets to your heirs. Your executor will be responsible Continue reading
Category: Estate Planning
Protect Yourself and Loved Ones from Financial Fraud
According to The Consumer Financial Protection Bureau’s Office of Financial Protection for Older Americans, “Since 2013, financial institutions have reported to the federal government over 180,000 suspicious activities targeting older adults, involving more than $6 billion. These Continue reading
Benefits of Prepaid Funeral Plans
Many seniors are worried about leaving a financial burden on their children when they pass away. Prepaid funeral plans are often an excellent way to protect children from having to spend out of their own pocket or advance funds in order to provide for a funeral (which can be very Continue reading
The Importance of Updating Retirement Account Beneficiaries
Many people have forgotten or never updated the beneficiaries on their retirement accounts. If it has been a while since you checked your beneficiary designations you may discover that the person or entity you intended to benefit isn’t who or what you thought it would be, especially Continue reading
Updating Your Estate Plan After a Divorce
The most common reason for revising wills and trusts after divorce is to make sure that your estate plan represents your current family situation and there are no unforeseen issues when you pass away. This is especially important if you have children. Protecting children and ensuring Continue reading
Can I Provide for a Special Needs Child in My Estate Plan?
Yes, you can provide for a special needs child in your estate plan. A specially designed trust, called a Special Needs Trust, can help ensure that your child will continue to receive the benefits they need.
What is a special needs trust?
A special needs trust is a type of trust that Continue reading
Estate Planning: Your Digital Assets
When most people think about estate planning, they think about the tangible assets they own – their house, their car, their bank account balances. However, what many people don’t realize is that they also own a number of digital assets, such as their email account, social media accounts, Continue reading
A Pet Trust Provides Care for Your Pets
Almost everyone who have ever owned a pet has considered what will happen to that pet if something happens to them. Will they be abandoned? Will they go into a shelter? Or, will someone else take them in and take care of them? One way to provide for a pet after you are gone is with Continue reading
3 Reasons to Update Your Estate Plan
You’ve worked hard to build your wealth and a strong estate plan is a great way to ensure that the people you love are taken care of after you pass. Even if you have taken the time to create an estate plan, it is important to note that trusts and wills should be updated throughout Continue reading
Giving During The Holiday Season!
December is often referred to as National Giving Month. Many in the Southern Tier are wondering what they can do to give back. Whether it is donating their time, money, or even just food or clothes, there are many ways you can make a difference in our community. Be encouraged that Continue reading