estateplanning

The Benefits and Disadvantages of Placing Your House in a Revocable Trust

The Benefits and Disadvantages of Placing Your House in a Revocable Trust

Understanding Revocable Trusts

Before diving into the specific advantages and disadvantages of placing your house in a revocable trust, let's first understand what a revocable trust is. A revocable trust, also known as a living trust, is a legal document that allows you to transfer ownership of your assets, including your house, to a trust while retaining control over them during your lifetime. You can serve as the trustee and manage the trust assets, and you have the ability to modify or revoke the trust at any time.

What happens to my life insurance policy if the company goes bankrupt?

What happens to my life insurance policy if the company goes bankrupt?

“Life insurance is a crucial financial tool that provides protection for your loved ones in the event of your death. However, what happens to your life insurance policy if the insurance company goes bankrupt? It's a valid concern that can have a significant impact on your financial planning. In this post, we'll discuss how you can protect your life insurance policy from bankruptcy.”

Three Misconception about Estate Planning

Three Misconception about Estate Planning

According to the 2022 State of Estate Planning report, 57% of the 10,000 Americans surveyed indicated that they feared that their loved ones will be burdened with closing out their estates after they pass away- yet only 53% have an estate plan in place. It seems that it’s a natural inclination to be concerned but not to take action to have an estate plan. Though there may be many reasons for this there are no misconceptions that many people maybe lacking enough information to take the first steps.  If you are reading Hishaw Law LLC blog for the first time, you have come to the right place.

Overview of Dementia

Overview of Dementia

“Dementia is caused when the brain’s cells have experienced some sort of damage and are no longer able to communicate with one another. Each part of the brain is responsible for a specific function, when that area has experienced damage, it can no longer perform its functions effectively.”