The One Thing Every New Grandparent MUST Do As Soon as Possible

Congratulations on welcoming the newest addition to your family. Being a new grandparent changes everything — including how you approach your finances — and is one of the most joyous occasions in life. The excitement of a new baby — and all of the firsts that come with this bundle of joy — can grab all of your attention and focus. That being said, there is one thing that every new grandparent must do as soon as possible that is often overlooked. Specifically, every new grandparent should immediately create (or revise) an estate plan so that it includes your family’s newest generation.

Having an intentional financial strategy for incorporating your new grandchild’s future in your overall estate plan is an important part of addressing your growing family’s needs. Read More

Is now the time to remodel your old trust?

There are several reasons why you should update your existing trust or perhaps your entire estate plan. While estate planning documents do not necessarily have a shelf life, they may not fulfill your goals when your circumstances change. Of course, having estate planning documents that are up-to-date is critical, but how do you know when you should make changes?

It is important to note that just because you have a trust in place does not mean you are bound to keep it as is; this is even true if the trust was inherited from someone else. Indeed, there is more than one way to make necessary changes: sometimes you can establish a new trust or simply revise the terms of an existing trust. Finally, making changes to an existing trust – and other estate planning documents – can help you save money and costs, and it may allow you to make better investments decisions. Read More

How Estate Planning Can Help You Dream About Your Future

A dream without a plan is simply a wish. Estate planning is not just about death and taxes — it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for loved ones, help you avoid the expense and delay of probate, as well as help you save on taxes.

When putting together your estate plan, think about what legacy you want to leave behind. The best way to do so is to write down your wishes. Consider the values you want to promote through your plan. Think about important family traditions you want to encourage or memories you want to preserve. Read More