Estate Planning Answers

Q: A good friend of ours has some wealth and a young family. We are having a difficult time convincing him and his wife to create their wills. Can you provide us with some good reasoning for having a will? — S.M.R., Tennessee A: The death of a loved one or close friend is tragic enough [...]

As a beneficiary of an estate, it’s in your interest to keep on top of what’s happening during a court probate or trust administration. Assets may come to you as a beneficiary either through a probate or outside of a probate. Probate is the court process by which a deceased person’s debts and taxes are [...]

What is a bypass trust? A bypass trust is a trust that is typically formed after the death of the first spouse in a marred couple. Initially, one may think to just to give all the assets to the surviving spouse, but then when the the survivor passes away, all the assets pile up and [...]

Q: A good friend’s mother recently  passed away without leaving any funeral or burial plans. This created a lot of family conflicts and got very expensive. When someone dies, can you offer an overview of the process and some advice?  - H. D., Florida  A: No one wants to think about a loved one’s funeral. Yet [...]

A Limited Liability Company is an entity formed under your state’s LLC statute that has the legal characteristic of limited liability similar to that of a corporation, while it may qualify to be treated for tax purposes as a partnership. A Family Limited Company is a limited partnership owned by family members. A limited partnership [...]