Estate Planning

What to Expect From a Financial Fiduciary

When it comes to managing your finances, it’s essential to trust your financial advisor. There are various types of advisors, but fiduciaries are particularly noteworthy because they adhere to distinct standards. If you’re seeking trustworthy guidance, it is important to understand the role and expectations of a financial fiduciary. Let’s take a closer look at […]

The Importance of Wills: A Lesson From Aretha Franklin

Aretha Franklin, known as the Queen of Soul, left behind a musical legacy and an important lesson in estate planning. Even after five years of her passing in 2018 due to pancreatic cancer, her children are still settling matters regarding her estate, estimated to be worth $10 million. The reason for the delay was that […]

Estate Planning: When To Include Children

Developing a detailed estate plan is a vital component of the financial planning process.  Although children are not always consulted during the execution of estate plans, there are some circumstances where they should be involved, or at the very least, informed of the details.  Below are a few of these instances: Children Given Responsibilities: When […]

What’s a Personal Representative of an Estate?

We have had many questions about the role of a Personal Representative (PR) when performing a Last Will and Testament. A PR is appointed to execute and administer a deceased person’s Last Will and Testament and assumes a legal fiduciary duty to the estate’s beneficiaries, meaning they must act in the beneficiaries’ best interests. For […]

Do You Have A Will?

Forty-six-year-old Tony Hsieh was the CEO of Zappos, the popular online shoe and clothing company that became famous for its ‘no-shipping costs’ service strategy.  Tony had a net worth estimated at $840 million and was an extremely bright individual.  Unfortunately, he passed away from burn injuries sustained in a house fire in November of last […]

Are You Missing This Tax-Saving Opportunity?

I received a question from a lady regarding her 87-year-old mother-in-law asking if she qualified for a property tax exemption? OUCH! Her mother-in-law has missed the opportunity to save perhaps hundreds or thousands of dollars over the past twenty-two years. Here’s an excerpt taken directly from the State of Alabama web site: I AM OVER […]

Do You Need a Trust in Your Will?

The good news is you have a will that outlines what happens to your stuff at your death.  One question that people often overlook is, “Do I need a trust” for a portion or all my assets?  Most wills don’t include trusts and leave assets outright to a spouse or children.  But in many cases, […]