Even if you’re a person of modest means, you have an estate. Naturally, you want control over the allocation of your assets after you die and want to be sure that your family is cared for properly, which is where an estate plan comes into play. There are two strategies for allocating your assets after …
When someone dies without a will, especially with a spouse or children, it can be stressful for the person left to distribute the estate. This is known as “intestate,” and means that laws of the state where the deceased resided will determine the property distribution, such as bank accounts and real estate. To fully understand …
Co-ownership of property can be a very tricky subject in today’s world. Whether it’s a married couple, business partners, roommates, or a romantic couple that simply lives together. Each type of living arrangement has different benefits and drawbacks, and there’s a lot of confusing terminology that goes along with it. Unfortunately, these terms carry legal …
Tenants in Common vs Joint Tenants with Rights of Survivorship Read More »
Owning a large estate is a tremendous benefit to you and your family. However, it can also cause major burdens when you pass away. An estate tax can have a hefty cost and drastically decrease the financial well-being you worked so hard to build for your loved ones. A trust will keep your assets safe …
For years people have looked for creative ways to avoid paying heavy income and estate taxes. The federal tax overhaul law recently signed by President Trump left many people confused about its implications on their assets. Wealthy families actually benefit the most. Overall, the tax overhaul has made it easier to set up trusts and …
How To Use Trust And Gifting To Reduce Your Income Taxes Read More »
If you own a large estate, consider the best estate plans for you and your heirs. You don’t want to burden your children with a heavy estate tax once you pass away. Estate lawyers recommend setting up trusts to protect your assets. The dynasty trust is more intriguing than traditional trusts because theoretically they can …
How to Use a Dynasty Trust To Grow Wealth and Benefit Future Generations Read More »
KGEZ recently interviewed attorney Brian Tanko of Tanko Law regarding the new tax laws. Listen to that interview below, or continue reading to learn more. The new tax laws are very confusing to a lot of people. If you listen to one side of the argument, it’s the apocalyptic end of all things. If …
The New Tax Laws: A KGEZ Interview with Tanko Law Read More »
Did you know that estate planning can protect a lot more than your human family? Your four-legged furry family members can also be covered and cared for specifically by your estate. Many people have specific plans and wishes for their pets after they pass away, from making sure they get adequate veterinary care, to ensuring …
About Pets Trusts: What They Are and How they Protect Your Pets Read More »
Understanding how trusts work is a key factor in your estate planning process. Trusts can be a vital part of protecting your assets while ensuring that your needs are covered while you age, and that those you leave behind are cared for when you’re gone. There are, however, two different kinds of trust, and each …
Revocable vs Irrevocable Trusts and How Each Is Used Read More »
“Probate” is an ominous sounding term that comes up whenever you have to settle the estate of someone who has passed away. It can be a long and frustrating process, but in the end, all it means is that the courts are making sure your estate is in legal order. We live in a complex …
