Funding a Special Needs Trust With a Structured Settlement

If you win a personal injury lawsuit, you may receive your award in a lump sum or as a structured settlement. With a structured settlement, you will receive payments over time; you may opt for a substantial initial amount, with lesser...

A black and gold pen sits on top of a document near the signature line

What Is a Trustee in Estate Planning?

October 10, 2024
Brian Hicks
Estate Planning, Our Blog, Probate & Trust Administration, Wills & Trusts

A trustee is a person or institution appointed to manage a trust on behalf of the beneficiaries of the trust. Being a trustee is a significant responsibility. Those serving in this role must always act in the best interests of...

Glasses, black pen and calculator sit on top of paperwork titled Estate Planning

11 Reasons You Need to Create an Estate Plan

October 3, 2024
Brian Hicks
Estate Planning, Our Blog, Probate & Trust Administration, Wills & Trusts

Many people believe estate plans are only for extremely wealthy families who are looking to reap tax benefits. Or they may delay estate planning because they are young. Others do not understand why an estate plan is important in the...

A tan color building with the name Probate Court above an arched doorway

Proper Estate Planning Reduces Issues of Probate

September 26, 2024
Brian Hicks
Estate Planning, Our Blog, Probate & Trust Administration

Probate is a legal process that happens after someone dies. While probate can be complex, lengthy, and expensive, an estate planning attorney or probate attorney can help mitigate unwanted risks. They will be able to anticipate what might happen and...

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IRS Finalizes 10-Year RMD Rules for Inherited IRAs

September 19, 2024
Brian Hicks
Estate Planning, Our Blog, Probate & Trust Administration

After much anticipation, the Treasury Department and the Internal Revenue Service (IRS) have issued final regulations relating to the 10-year required minimum distribution (RMD) rule for people who inherit individual retirement account (IRA) assets. The newly published guidelines generally reflect...

Why Trusts Are Important Estate Planning Tools

September 12, 2024
Brian Hicks
Estate Planning, Our Blog, Probate & Trust Administration, Wills & Trusts

Estate planning involves creating a plan for where – and to whom – your assets will go upon your death. The process can include making a will, designating which of your loved ones should receive your retirement accounts and life...

Estate Planning for Entrepreneurs and Business Owners

September 5, 2024
Brian Hicks
Estate Planning, Our Blog

Business success requires planning, commitment, and a strategic approach. Many new businesses take at least two or three years to turn a profit and twice as long to truly hit their stride. If you’ve created a business, you know that...

Report: Planning for America’s Aging Population

August 29, 2024
Brian Hicks
Elder Law, Estate Planning, Medicaid Planning, Our Blog, Senior Living

If you are age 65 or older and living in the United States, you are part of a large and growing population segment. According to the 2020 Census, one in six Americans are over 65. In fact, the number of...

Probate Process: A General Timeline

August 26, 2024
Brian Hicks
Estate Planning, Our Blog, Probate & Trust Administration

Probate is the legal process of formally recognizing a will after a person dies, naming or validating an executor to administer the estate, and distributing assets to intended beneficiaries. It also requires paying the decedent’s outstanding debts and federal and state...

Blended Families and Wills in Estate Planning

August 15, 2024
Brian Hicks
Estate Planning, Our Blog, Wills & Trusts

Today, 16 percent of children in the United States live in blended families, according to U.S. Census data. This can include those living in households that have a stepparent, stepsibling, or half-sibling. In many cases, stepchildren receive the same treatment as...