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What is a Living Trust?

By Robert Pagliarini on April 9, 2017

Living trusts are created with a clearly defined objective: to avoid probate. Unfortunately, misconceptions about living trusts have spread to the point where people think they can accomplish much more than they can. If you fear probate, consider a revocable living trust. If you worry about your will being contested or your heirs fighting over…

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Common Estate Planning Mistakes

By Robert Pagliarini on March 22, 2017

Many affluent professionals and business owners put estate planning on hold. Only the courts and lawyers stand to benefit from their procrastination. While inaction is the biggest estate planning error, several other major mistakes can occur. The following blunders can lead to major problems. Failing to revise an estate plan after a spouse or child…

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Financial Planning After A Spouse Dies

By Robert Pagliarini on November 3, 2016

When a spouse passes away, the emotion and magnitude of the loss can send our lives reeling. This profound change can also affect our finances. All at once, we have a to-do list before us, and the responsibility of it can make us feel pressured. With that in mind, this article is intended as a…

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JTWROS Versus JT TEN: Understanding the Difference

By Robert Pagliarini on

JTWROS. JT TEN. What do these acronyms stand for? To what degree do their meanings differ? If you own or co-own assets, you should know the subtle distinction that some states make between them. JTWROS stands for Joint Tenancy with Right of Survivorship. JT TEN stands for Joint Tenants with Right of Survivorship. No difference,…

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Reviewing Your Estate Plan: What You Need To Know

By Robert Pagliarini on August 16, 2016

An estate plan has three objectives. The first goal is to preserve your accumulated wealth. The second goal is to express who will receive your assets after your death. The third goal is to state who will make medical and financial decisions on your behalf if you cannot. Over time, your feelings about these objectives…

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Getting Your Financial “Final File” in Good Order

By Robert Pagliarini on June 28, 2016

Who wants to leave this world with their financial affairs in good order? We all do, right? None of us wants to leave a collection of financial mysteries for our spouse or our children to solve. What we want and what we do can differ, however. Many heirs spend days, weeks, or months searching for…

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Common Estate Planning Mistakes to Avoid

By Robert Pagliarini on January 12, 2016

Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly, but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some common and not-so-common errors to avoid. Doing it all yourself. While you could write your own will or create a…

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Is a Charitable Lead Trust Right for You?

By Robert Pagliarini on November 12, 2015

Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating a charitable lead trust. A charitable lead trust is the inverse of a charitable remainder trust. While a CRT is structured to provide income to the trust beneficiaries and an eventual charitable donation, a CLT…

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The Differences Between a Transfer on Death Account & a Living Trust

By Robert Pagliarini on

How do you keep assets out of probate? If that estate planning question is on your mind, you should know that there are two basic ways to accomplish that objective. One, you could create a revocable living trust. You can serve as its trustee, and you can fund it by retitling certain accounts and assets…

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Estate Planning Considerations After a Second Marriage

By Robert Pagliarini on September 23, 2015

Marrying again makes estate planning more involved. How do you provide for everyone you love? Should you provide for everyone you love? How do you arrange to transfer wealth in a way that won’t hurt the feelings of certain heirs? If you have not planned your estate yet, take inventory. Spend a half-hour and jot…

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