Umbrella Insurance A personal umbrella policy adds additional coverage to your homeowner’s and auto liability insurance policy. The umbrella policy is available to pay for the remainder (or at least part) of a claim that exceeds limits on either your auto or homeowner’s policy. For example, your homeowner’s policy might provide a $100,000…
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UM? UIM? Why?
UM? UIM? Why? You listen to your insurance agent. You follow your insurance agent’s recommendation. You have adequate base automobile coverage as recommended. Part of that coverage is uninsured motorist and underinsured motorist coverage. But what is that? Your teenage daughter is involved in a car accident on her way to school. She…
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Your Fiduciary – Amateur or Professional?
Selecting your fiduciary is critical. Your fiduciary might be your Personal Representative named in your Will, your Successor Trustee named in your Living Trust, or an agent named in a Power of Attorney. Many people choose a close friend or a family member. The best fiduciary is someone who is scrupulously honest, capable, pays attention…
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Credit Shelter Trust Provisions May Not Be Necessary
We met with a married couple to review their estate plan that had been documented in the 1990s. Their plan included a Credit Shelter Trust as one of the provisions in their Living Trust. A Credit Shelter Trust provision is a very common Estate Tax minimization technique that sometimes is known as an “A/B…
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