Having an estate plan, even an imperfect one, is usually better than having no plan at all. But an existing plan can still have serious flaws that defeat its overall goals or objectives. A plan based on misperceptions, including the…

The Great Wealth Transfer, a broad term for the largest transfer of wealth from older generations to younger ones through inheritances and other financial gifts, is underway.1 But that does not mean that every heir will receive a share. Some…

Your family may need access to important information at a time when you cannot explain where it is or how to find it. Bank and investment accounts, insurance policies, medical information, estate planning documents, property records, and online accounts may…

“That’s not fair!” is a common child’s refrain as they advocate for themselves or express what they feel to be unjust. This pursuit of fairness, however, often follows families into adulthood, and it can resurface with real consequences when an…

As adults, we rarely face a multiple-choice exam or a pop quiz. The tests that come our way tend to be real-life ones: moments that reveal how prepared we actually are for the unexpected. That is how your estate plan…

Retreating to a warmer climate for the winter may sound like an ideal way to spend a few months. To help make this dream a reality, some individuals choose to rent out their second homes when they are not in…

An estate plan may look perfect on paper—until your heirs need cash quickly. Life insurance can be a powerful tool for addressing that gap, providing funds precisely when they are needed most. When coordinated with the rest of your estate…

For many snowbirds, cooler weather means it is time to head south. If you are thinking about heading for warmer weather this winter, there are a few things you should consider before hitting the road. Which state do you consider…

Maps help us get where we are going. Nowadays, phone apps provide detailed directions, making it nearly impossible to get lost. A physical map may seem outdated, but in an emergency, it can be a lifesaver.  An estate plan without…

A pot trust is a way to hold money and property for a group of beneficiaries, usually children or other family members, in one shared trust. Instead of dividing everything into separate shares right away, the assets stay together in…

As a single person, you may find yourself wondering who will step in to make important decisions for you if you become unable to do so or who will receive your money and property after your death. Although parents, siblings,…

Congratulations on your new home. Whether you are officially a first-time homeowner or are leveling up (or scaling back) to a space that better fits your life, buying property is a massive milestone. While you are busy picking paint swatches…

According to the College Board, the average tuition and fees for the 2025–2026 academic year are $11,950 for a four-year in-state public institution; $31,880 for a four-year out-of-state public institution; $45,000 for a four-year nonprofit private institution; and $4,150 for…

For some people, the term family meeting may not bring to mind a pleasant gathering where everyone shares fond memories and warm feelings. When someone says, “We need to talk,” it often implies that something is wrong or that tough…

Even if you are currently in good health, an unexpected illness or injury could leave you unable to make your own medical decisions. A medical power of attorney is a crucial component of your estate plan that allows you to…

Steward—a term for someone entrusted with the care of something that does not personally belong to them—is commonly used in such realms as business, public service, and environmentalism. Conservationists may be referred to as stewards of the land. Business leaders…

You have probably heard of the gender pay gap. But there is also another common disparity: the estate planning gender gap.  Although the two are interrelated to some extent—earning less than men puts women on an unequal path to investment…

Noncitizen spouses are treated differently than US citizen spouses for estate and gift tax purposes. They do not get the unlimited marital deduction. Married US citizen spouses can generally transfer unlimited amounts of money between each other during life or…

Many people own property in more than one state, such as an ocean-side vacation home or a rental property in a former home state. It is important to think about how that property will be handled after you pass away.…

We all have different ways of giving and receiving love, and those preferences can reveal a great deal about us. You may be the type who expresses love with words, telling people you care about them or crafting carefully worded…