January 2020

New Law Makes Big Changes to Retirement Plans

President Trump has signed a spending bill that makes major changes to retirement plans. The new law is designed to provide more incentives to save for retirement, but it may require workers to rethink some of their planning. The Setting Every Community Up for Retirement Enhancement (SECURE) Act changes the law surrounding retirement plans in several ways:

Understanding the Differences Between a Living Trust and an Irrevocable Trust

You may be thinking about setting up a trust to protect your assets, save on estate taxes, or perhaps set aside money for a special needs family member. Before you commit to a plan, make sure you understand the differences between the two basic types of trusts: the revocable (also called “living”) trust and the

What Is Asset Protection Planning?

Asset protection planning is about protecting your assets from creditors -- and it is not just for the super-wealthy. Anyone can get sued. Lawsuits can stem from car crashes, credit card debt, bank foreclosures, or unhappy customers, among many other things. If someone wins a monetary judgment against you, your family could become bankrupt trying

Understanding the Differences Between a Will and Trust

Everyone has heard the terms "will" and "trust," but not everyone knows the differences between the two. Both are useful estate planning devices that serve different purposes, and both can work together to create a complete estate plan. One main difference between a will and a trust is that a will goes into effect only

Estate Planning When You Have a Stepfamily

With estate planning in mind ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger family unit. Unfortunately, it too often also creates inheritance fights between stepparents and children. A good strategy for estate planning is necessary to help avoid these types of family squabbles. Complications