Bott & Associates, Ltd.

A will outlines the distribution of your assets following your death, similarly to a trust. If you have a trust, a will is only necessary in the case of any children who are still underage. Guardianship of these minor children…

With age, the focus often turns from planning for the purchase of a bigger home to planning to have enough income to live well after retirement. Many factors contribute to this calculation, but following are four common considerations: Do I…

Trusts can be used as an asset protection tool and to help your beneficiaries avoid the cost and expense of probate. Trusts transfer legal ownership of assets to a trustee. The property is deeded in the name of the trust…

Legislation signed in March allows taxpayers who earned less than $150,000 in modified adjusted gross income to exclude unemployment compensation up to $20,400 if married filing jointly and $10,200 for all other eligible taxpayers. The legislation excludes only 2020 unemployment…

Taxpayers who have to write big checks for higher education can see tax savings when filing tax returns next year. If you, your spouse or your dependents are taking postsecondary coursework, there’s a strong chance a tax benefit may be…

When it comes to estate planning, Ted and Emily thought they were ahead of the game. They went to their attorney for help with estate planning and created a Trust to protect their assets. They are in company with about…

A brand new baby brings a special kind of chaos to your home. In the midst of sleep deprivation, midnight feedings, and seemingly endless diaper changes, estate planning is likely the last thing on your mind. And yet, making an…

In order to know whether or not you should refinance, it is important to understand exactly what it means to refinance. Refinancing is the extinguishing of the old loan agreement with a new agreement between the lender and the borrower.…

Your home is probably your most valuable asset. You are clear about whom you want to end up with when you die. If you’re a parent, you want your kids to inherit your home. Ensure that your wishes become reality.…