Jan 9 2025
Estate Planning Checklist: 5 Initial Steps You Can Take

Most of us spend little time thinking about death or losing the capacity to manage our own affairs. These are unpleasant topics and banishing them from our minds is easier than entertaining them. Death, however, is inevitable and becoming incapacitated is not likely, but possible.

What would happen if you could no longer handle your finances or communicate your health care decisions? Who would make important decisions for you about these kinds of things or manage and distribute your assets after you die? These are some of the underlying questions in estate planning.

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Dana L Campbell View All Articles
Nov 14 2024
Assisted Living vs. Nursing Homes: What’s the Difference?

Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct.

Understanding the differences between assisted living and nursing homes is critical for those considering where to live as they age. This is because assisted living communities and nursing homes provide different types of care. While assisted living is appropriate for active older adults who need support with everyday tasks, nursing homes provide medical care to adults with significant health issues.

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Dana L Campbell View All Articles
Aug 29 2024
Estate Planning for Entrepreneurs and Business Owners

Success in business 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 success doesn’t happen overnight. But do you know what will happen to your business if something unexpected impacts you or when you decide to step away?

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Dana L Campbell View All Articles
Aug 29 2024
What Is the Difference Between a Will and a Trust?

Wills and trusts are foundational estate planning tools. While each is used to distribute assets to beneficiaries, they do so in different ways. Each also has its own distinct uses and advantages. They’re often used together to close gaps in an estate plan and prepare for multiple scenarios that might otherwise cause unexpected burdens for heirs.

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Dana L Campbell View All Articles
Aug 26 2024
What is a Trust?

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” The rules or instructions under which the trustee operates are set out in the trust instrument. Trusts have one set of beneficiaries during their lives and another set — often their children — who begin to benefit only after the first group has died. The first are often called “life beneficiaries” and the second “remaindermen.”

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Dana L Campbell View All Articles
Aug 25 2024
What Is a Trustee in Estate Planning?

A trustee is the person or institution appointed to manage a trust on behalf of beneficiaries of the trust.

Being a trustee is a significant responsibility. Those serving in this role must always act in the best interests of beneficiaries when carrying out their trust management duties, which include locating and protecting trust assets, investing assets prudently, distributing assets to beneficiaries, keeping track of income and expenditures, and filing taxes.

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Dana L Campbell View All Articles