Who Can Pay for an Estate Plan? Estate planning is not just for the wealthy. Every adult should have an estate plan, yet surprisingly, most Americans do not. The perceived cost of creating one is among the most cited reasons for a lack of estate planning. The consequences of not having an estate plan can…
Sometimes, pet owners can get a bit creative when providing for their pets’ future care. The following three famous cases involving pet trusts offer some important lessons. David Harper and Red David Harper, a wealthy, reclusive bachelor in Ottawa, Canada, left his entire $1.1 million estate to his tabby cat, Red. To ensure his wishes…
When Inherited Property Might Be Stolen: What You Should Know Your family member went through a meticulous estate planning process to organize and distribute money and property for the benefit of their loved ones, including you. But you may suspect that some of the high-value items in their estate originated as stolen property. The possibility…
Testamentary bequests offer a remarkable opportunity for you to leave a meaningful impact on charitable causes close to your heart. In essence, they are provisions in your estate plan that enable you to designate specific gifts or donations to charitable organizations or causes that are meaningful to you. These bequests provide a structured and legally…
One important purpose of estate planning is to facilitate the transfer of ownership of your money and property to your family and loved ones when you pass away. For this transfer to be as stress-free and efficient as possible, it is crucial that estate planning documents provide all necessary information. Nevertheless, there is some information…
Compared to residents of other wealthy nations, Americans are more likely to give their time and money to help others. In 2023, the United States ranked ninth in per capita gross domestic product (GDP) but fifth on the World Giving Index rankings. Polling shows that Americans trust nonprofits more than government or business, but they…
Estate planning can be a very difficult process. While it is not brain surgery, making the decision to move forward with an estate plan requires us to face the fact that we will not live forever. This thought stops many people in their tracks. Others talk themselves out of seeing a qualified attorney to create…