4 Tips for Avoiding a Will or Trust Contest

By Andrew Gilliland | Published September 29, 2021 | Posted in Estate Planning |

A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest. If you are concerned about challenges to your estate plan, consider the following: Do not attempt “do it Read More

Discretionary Trusts – How to Protect Your Beneficiaries From Bad Decisions and Outside Influences

By Andrew Gilliland | Published September 22, 2021 | Posted in Estate Planning |

Leaving your hard-earned assets outright to your children, grandchildren or other beneficiaries after you die will make their inheritance easy prey for creditors, predators, and divorcing spouses. Instead, consider using discretionary trusts for the benefit of each of your beneficiaries. What is a Discretionary Trust? A discretionary trust is a type of irrevocable trust that Read More

Estate Planning for Young Adults

By Andrew Gilliland | Published September 15, 2021 | Posted in Estate Planning |

Who needs estate planning? Everyone needs estate planning. Children under the age of 18 are protected by their parents’ estate plan but everyone age 18 or older needs his or her own estate plan. Of course, estate plans vary immensely depending on goals, finances, family situation, domicile (where you live). There is no one-size-fits all Read More

Protecting Your Children’s Inheritance When You are Divorced

By Andrew Gilliland | Published September 15, 2021 | Posted in Estate Planning |

Consider this story. Beth’s divorce from her husband was recently finalized. Her most valuable assets are her retirement plan at work and her life insurance policy. She updated the beneficiary designations on both to be her two minor children. She did not want her ex-husband to receive the money. Beth passes away one year after Read More

How to Protect Your Retirement Account

By Andrew Gilliland | Published September 8, 2021 | Posted in Estate Planning |

Shocking to most people, your retirement accounts can be seized once they pass to your loved ones. During your lifetime, your retirement funds have asset protection, meaning they can’t be taken in a lawsuit. Unfortunately, as soon as retirement accounts are inherited, the protection evaporates. This means your hard-earned money can legally be snatched by Read More

Caution: Creditors Now Have Easy Access to Inherited IRAs

By Andrew Gilliland | Published September 1, 2021 | Posted in Estate Planning |

Do you have IRAs or other retirement accounts that you plan to leave to your loved ones? If so, proceed with caution. Most people don’t know the law has changed: inherited retirement accounts no longer have asset protection, meaning they can be seized by strangers. How Can Inherited IRAs Be Protected? Enter the Standalone Retirement Read More

3 Things You Must Do Once Your Divorce Is Final

By Andrew Gilliland | Published August 25, 2021 | Posted in Estate Planning |

The divorce process can be long and expensive. However, the work does not end once the divorce decree is signed. In order to ensure that your assets and estate planning wishes are carried out in light of this major life change, there are three things you must do as soon as possible. Change Beneficiary Designation Read More

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