Once you adopt a child, it’s important to work to ensure that either a new estate plan or a revised one reflects the new structure of your family and provides for your child’s future. Proper estate planning can help to ensure their well-being if anything were to...
If you’re a parent, you likely are familiar with 529 education savings plans. They’re a good way to save for upcoming educational expenses, and they offer a number of tax advantages. If your child is now grown and has a child of their own, you may want to look at 529...
Almost any adult can benefit from creating an estate plan, but some people need proper testamentary documents more than others. Those with dependent family members or high-value resources often have more of a need for comprehensive estate planning than the average...
Many people review their estate plans before they even finalize their divorces. They worry that if anything were to happen to them, their spouse might receive the majority of their property or intercept the assets they want their children to receive instead. Whether...
Creating an estate plan is a responsibility that many people delay. After someone creates an estate plan, they may avoid revisiting it as frequently as they should. Updates and corrections to estate planning documents are crucial to the protection of family members...
Estate planning is a process that intimidates many people. Many adults find the prospect of preparing for death relatively unpleasant. They may also find the assortment of different documents that they could draft confusing or intimidating. Some people put off the...
Gifting is a strategic tool used in estate planning to reduce the taxable value of an estate, which can be particularly beneficial for wealthier residents of Rhode Island. By carefully gifting assets during one's lifetime, an individual can effectively decrease the...
Many people have such significant personal debt that they must commit a portion of their income every month for years to pay it off in full. Student loans, mortgages, medical debts and credit card balances may require concerted efforts to resolve completely....
When someone dies, their belongings typically pass through probate court. That process can take many months to complete and often diminishes how much their family members or other selected beneficiaries ultimately receive from their estate. Therefore, many people...
Most American adults do not have an estate plan. Studies have found that, even though everyone needs a plan eventually, only about one-third of Americans have actually created estate plans. Many others are putting it off or may have no plans to craft these documents...