Power of Attorney vs. Living Will – What’s the Difference?
Estate planning isn’t just about deciding what you want to happen to your belongings when you die – it also involves planning for what you want to happen if you’re ever incapacitated. If you’re tackling incapacity planning – something every adult should do – you may...
What Happens to an Inheritance in a Divorce? Understanding Marital Assets
When one spouse receives an inheritance, the other spouse may think they’ve hit the jackpot. However, reality is not quite this simple. Although state law will determine exactly what happens to an inheritance in a divorce, and how the inheritance is used can also make...
Who Needs an Estate Plan? (Hint – You Probably Do)
Most people recognize that estate plans serve a vital purpose – for other people at least. The 2024 Wills Survey from Caring.com found that only 32% of Americans have a will. Although some people may be putting off estate planning simply because they would rather...
What’s the Difference Between Estate Tax and Gift Tax?
If you want to give a large amount of money to someone, there’s a good chance it will result in a tax burden. This is true whether you decide to transfer the money while you’re alive or after your death as part of your estate. However, estate tax and gift tax differ...