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What is the Difference Between a Will and a Trust?

Posted by Noah Sarkauskas | Aug 25, 2022 | 0 Comments

When it comes to estate planning, there are a few key documents that everyone should consider. These include a will and a trust. But what is the difference between these two documents? And which one is right for you? Here's a closer look at the differences between wills and trusts, and when you m...

Do I Need a Will or a Trust?

Posted by Noah Sarkauskas | Jul 25, 2022 | 0 Comments

Making a will is an important part of estate planning, but it's not the only option. A trust can be a more flexible and effective way to manage your assets after you die. So which is right for you? Here's a look at the pros and cons of wills and trusts. What Is the Difference Between a Will and ...

How Can I Avoid Probate?

Posted by Noah Sarkauskas | Jul 18, 2022 | 0 Comments

No one likes to think about death, but it's a reality we all have to face. If you're like most people, you don't want to spend your time and money going through the probate process after you die. Fortunately, there are several ways to avoid probate and make the process easier for your loved ones....

What Is a Pour-Over Will?

Posted by Noah Sarkauskas | Jul 11, 2022 | 0 Comments

When most people think about estate planning, they think about wills. But what is a pour-over will and why would you want one? Learn more about what a pour-over will is and whether or not it's the right option for you. What Is a Pour-Over Will and How Does It Work? A pour-over will is a documen...

What Is a Contingent Beneficiary?

Posted by Noah Sarkauskas | Jul 06, 2022 | 0 Comments

When estate planning, it's important to consider all potential beneficiaries of your estate. But what happens if a beneficiary is unable or unwilling to inherit? That's when you designate a contingent beneficiary. A contingent beneficiary is someone who will inherit your assets if the original be...

What Is a Beneficiary?

Posted by Noah Sarkauskas | Jun 29, 2022 | 0 Comments

Choosing beneficiaries is a very important aspect to consider in estate planning. But what exactly is a beneficiary? Read on to learn more. What Is a Beneficiary? A beneficiary is the person or organization that receives money, property, or another item of value from a will or trust. Beneficiar...

What Is a Power of Attorney for Finances?

Posted by Noah Sarkauskas | Jun 16, 2022 | 0 Comments

When it comes to estate planning, there are a lot of important documents to consider. One of the most important is a power of attorney for finances. This document appoints someone you trust to handle your financial affairs if you are unable to do so yourself. It's an important thing to think abou...

What Is a Healthcare Power of Attorney?

Posted by Noah Sarkauskas | Jun 13, 2022 | 0 Comments

If you are like most people, you probably don't think about your health very often. But what would happen if you became seriously ill and couldn't make decisions for yourself? That's where a healthcare power of attorney comes in. This document allows you to designate someone to make decisions on ...

What is a Living Will?

Posted by Noah Sarkauskas | Jun 08, 2022 | 0 Comments

Have you ever wondered what would happen during a medical crisis? If you are like most people, you probably don't think about estate planning until there is a crisis. But having an up-to-date estate plan, including a living will, can help ensure your wishes are followed in the event of an emergency. So what is a living will, and what should you include in it? R...

What is an Irrevocable Trust?

Posted by Noah Sarkauskas | Jun 06, 2022 | 0 Comments

An irrevocable trust is a type of trust agreement that cannot be changed or canceled after it has been created. This type of trust can be used to protect assets from creditors, as well as minimize estate and gift taxes. There are several types of irrevocable trusts, each with its own set of benef...

What is a Revocable Trust?

Posted by Noah Sarkauskas | Jun 02, 2022 | 0 Comments

What is a revocable trust? A revocable trust, also known as a living trust, is a legal document that allows you to control your assets while you're alive and appoint someone to manage them after you die. You can revoke or change the trust at any time. This type of trust is a great way to ensure ...

What is a Trust?

Posted by Noah Sarkauskas | May 30, 2022 | 0 Comments

What is a trust and what are the benefits of having one in your estate plan A trust is a legal entity that holds assets on behalf of beneficiaries. trusts can be used for a variety of purposes, including reducing taxes, avoiding probate, and protecting assets from creditors. Trusts can ...

What is a Will?

Posted by Noah Sarkauskas | May 24, 2022 | 0 Comments

When you hear the term "will", what comes to mind? For many people, wills evoke images of wealthy old men signing documents in big offices with lawyers by their side. But a will is more than just a tool for the wealthy. A will is a vital legal document that everyone should have, regardless of age...

Why You Need an Estate Plan

Posted by Noah Sarkauskas | May 20, 2022 | 0 Comments

Most people put off estate planning because they think they don't have enough assets to make it worth their time. But that's not always the case. Even if you only have a small estate, it's important to have an estate plan in place so that your loved ones can avoid costly and time-consuming legal ...

When Should I Get a Will?

Posted by Noah Sarkauskas | May 11, 2022 | 0 Comments

What is a Will? A will is a legal document that outlines your desires for property distribution and the care of any minor children. Those wishes may not be carried out if you die without a will. Furthermore, your heirs may end up spending more time, money, and emotional energy after you pass awa...

What is Probate and How Can It Be Avoided?

Posted by Noah Sarkauskas | May 10, 2022 | 0 Comments

Probate is the legal process that your estate must go through after you pass. The court will begin the process of dispersing your estate to your heirs during this legal proceeding. If you have a Will and/or Living Trust that clearly states your wishes, probate will be much easier. These document...

The Benefits of a Trust over a Will

Posted by Noah Sarkauskas | May 09, 2022 | 0 Comments

Wills and trusts both serve the same primary purpose: transferring your property to your heirs after your death. Before deciding between the two documents, however, the differences in how function should be carefully explored. Advantages of a Trust In comparison to a will, a trust has various a...

Why You Should NOT Gift Your Home to Your Children

Posted by Noah Sarkauskas | Dec 06, 2021 | 0 Comments

When you gift your home to your children, if they ever sell the house, they are responsible for paying taxes on the value gained during their ownership as well as the value gained during your ownership. For example, if you bought a house for 100,000 dollars and it is now worth 200,000 dollars, w...

How to Save OVER $100,000 Through Medicaid Planning

Posted by Noah Sarkauskas | Oct 06, 2021 | 0 Comments

Nursing home costs are expensive and add up quickly. Within a short period of time, an entire life's savings can be depleted by paying for the cost of a stay in a nursing home. With proper planning, however, substantial value may be able to be preserved and passed along. Here is an example of how...

How to Qualify for Medicaid Through Converting Assets

Posted by Noah Sarkauskas | Sep 28, 2021 | 0 Comments

How the Medicaid System Functions The Medicaid System will pay for your care costs if you meet certain qualifications. The Medicaid System has an asset limit. As of the day this article was written, in Wisconsin, you must have less than $2,000 in assets to qualify for Medicaid. If you have more...

Does a Will Avoid Probate?

Posted by Noah Sarkauskas | Sep 20, 2021 | 0 Comments

Probate is the process of administering the estate of the person who passed by gathering their assets, paying their liabilities, and distributing the remaining assets to the beneficiaries. Trusts, when properly setup and funded, can avoid probate. The question is: Does a will avoid probate? D...

Can I Leave Money For My Dog or Cat?

Posted by Noah Sarkauskas | Sep 20, 2021 | 0 Comments

When it comes to families, people often view their pets as part of their family. A common question is whether a will or trust can provide for a pet after the owner passes. Planning for this family member has an added complexity in that our furry family member is not in a position to handle the...

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