Blog Post
The Pros and Cons of Joint Ownership
By Canarick & Canarick |
If you are recently married or have been married for a while and have acquired additional money or property (or plan to), you have options regarding how your assets can be owned. Although joint ownership seems easy and convenient, it may not always work as well as you think it ...
Read More Your Post-Honeymoon Legal Checklist
By Canarick & Canarick |
Your wedding day was absolutely perfect. You and your spouse went on your honeymoon and had the time of your lives. Now you are back and can breathe a sigh of relief as the years ahead unfold before your eyes. Well, not so fast. With your honeymoon over, there are ...
Read More Estate Planning for the Newly Married
By Canarick & Canarick |
Now is the perfect time to start working on an estate plan. As newlyweds, you are likely in the process of deciding which of your accounts and property (your assets) to combine and how to turn two households into one. You may also be setting up new bank accounts and ...
Read More Choosing the Ideal Trust for Your Wishes
By Canarick & Canarick |
The term estate may bring to mind mansions, vast fortunes, and a level of wealth that many people do not possess. This misconception may lead to the false impression that estate planning is only for the rich and famous, discouraging those with more modest means from seeking professional guidance. If ...
Read More Beneficiary and Transfer-on-Death Designations: Are You Doing It Right?
By Canarick & Canarick |
Do you know which of your accounts have beneficiary designations, sometimes called transfer-on-death (TOD) or payable-on-death (POD) designations? Have you updated them recently? Are you aware of what can go wrong if there are issues with your beneficiary designation forms? If you answered “no” to any of these questions, it ...
Read More Are Outright Distributions the Perfect Fit for Your Loved Ones?
By Canarick & Canarick |
Although Americans are living longer and spending more time—and money—in retirement, many parents intend to leave an inheritance to their children. The exact amount can vary greatly depending on individual circumstances and wealth levels, but even a small inheritance can be meaningful and help set a child up for long-term ...
Read More Do You Know What You Own?
By Canarick & Canarick |
Americans’ median household net worth (meaning half the households have more and half the households have less) is around $193,000, while the average net worth is just over $1 million, according to the Federal Reserve, the central bank of the United States.[1] The median gives a more accurate picture because ...
Read More Who is Part of Your Professional Team?
By Canarick & Canarick |
If you are like most Americans, you have at least one to-do list. You might also use lists when you are shopping, brainstorming, setting goals, and planning for events. To-do lists, grocery lists, bucket lists . . . the list goes on. However, there is one crucial list that often ...
Read More Ensure That Your Loved Ones Call the Right Doctor
By Canarick & Canarick |
Now that we are in March, we are well past the point at which most of us have abandoned our New Year’s resolutions. As in previous years, improving physical health ranked among the top goals that Americans set for themselves in 2025.[1] But while goals like losing weight and building ...
Read More Money Isn’t Everything in Estate Planning – How to Pass Your Stories and Values to Future Generations
By Canarick & Canarick |
Money and property may be the most discussed types of wealth that a person owns, but the riches of their experience and wisdom can mean even more to loved ones down the line. Reinforcement of family traditions can be built into your estate plan alongside your wishes regarding the distribution ...
Read More Lessons from Warren Buffett’s Estate Plan: Generosity, Adaptability, and Transparency
By Canarick & Canarick |
Warren Buffett, known as the Oracle of Omaha, is one of the most successful investors of all time. His disciplined approach to investing, combined with his understanding of markets and financial foresight, has made him a global icon and model of success in the often-turbulent business world. Buffett’s investing can ...
Read More Beware of Trust Scams—and How to Spot Them
By Canarick & Canarick |
Trusts are widely used in estate planning to protect and transfer a person’s assets (money, accounts, property, etc.), sometimes in a tax-advantaged manner. Some trusts are highly complex, with multiple parties, intricate structures, specialized legal terms, and references to arcane tax law that can be difficult for the average person ...
Read More The Top Ten Estate Planning Issues
By Canarick & Canarick |
Probate – Court supervised administration of your estate is never a pleasant journey. Despite the helpful court personnel, there are still filing fees, lack of privacy issues, and long waiting periods before distribution. And that’s if all goes well. Asset Protection – Many people do not take advantage of the asset protection ...
Read More What Is a NING Trust?
By Canarick & Canarick |
The Nevada incomplete gift non-grantor (NING) trust is a tool designed to provide affluent individuals with a legal avenue for asset protection and tax optimization. These specialized trusts leverage Nevada’s advantageous tax codes and trust-friendly laws, enabling residents of high-income-tax states to shield certain assets from those taxes. If you ...
Read More Have You Considered a Dynasty Trust for Your Family’s Estate?
By Canarick & Canarick |
When most people hear the term “dynasty trust,” they assume it’s something for only the wealthiest of families. However, dynasty trusts are not as out of reach as you might think, and can be used by many more families of a greater wealth spectrum than currently use them. Demystifying dynasty ...
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