Elyse Dillard

A Will is a legal document that spells out how you want your assets divided upon your death. Here's the benefits of a Will and why you need one.

The main difference between a DBA and an LLC is liability protection. Learn the pros and cons between an LLC and DBA.

A Will is one of the most important estate or end-of-life care planning documents that you can prepare. Learn which of the different types of Wills are right for you.

‍Estate Tax Explained: What Families Need to Know in 2025

Estate planning can be confusing, especially when navigating complex tax laws. This updated guide (originally published September 3, 2020, and refreshed on July 8, 2025) breaks down what estate tax is, who it affects, and how to minimize its impact. Estate tax—often called the "death tax"—is a federal tax on a deceased person’s estate before it passes to heirs. While it typically applies only to estates over $13.61 million (as of 2024), understanding it is crucial for long-term wealth preservation.

Key distinctions are made between estate tax, inheritance tax, and probate tax, as well as the types of assets included in estate valuations—from real estate to life insurance. The blog also explores how state-level estate and inheritance taxes may apply, even when federal taxes do not.

You'll learn how estate tax is calculated, current rates (up to 40%), and which states impose additional taxes like Massachusetts, Oregon, and Maryland. The article also shares expert strategies to reduce or avoid estate taxes using tools like trusts, lifetime gifting, spousal exemptions, and life insurance planning.

Most importantly, the post emphasizes the value of professional legal help in estate planning. LegalShield offers affordable access to experienced estate attorneys who can help families create wills, manage estate tax exposure, and protect generational wealth—all starting at $26.95/month.

Top takeaways:

• Federal estate tax only affects estates above $13.61M (2024 threshold)
• Most middle-income families won’t owe federal estate tax
• State-level estate/inheritance taxes may still apply
• Planning tools like trusts and gifting reduce tax liability
• LegalShield provides accessible, affordable estate planning support

Protect your family’s legacy—start planning today.

Why Contingent Beneficiaries Are Critical to Your Estate Plan

Naming a primary beneficiary is a common step in estate planning—but without a contingent beneficiary, your assets could be left in legal limbo. This comprehensive guide explains the importance of contingent beneficiaries for Wills, Trusts, life insurance, and retirement accounts. You’ll learn how contingent designations serve as a crucial backup plan, ensuring your assets go to the right people—even if your primary beneficiary is unavailable due to death, refusal, or legal disqualification.

Key topics include:

• What a contingent beneficiary is and how it works
• Common legal issues when no backup beneficiary is named
• Real-life scenarios where contingent beneficiaries prevent costly delays
• How to add or update contingent beneficiaries across different asset types
• The difference between primary and contingent beneficiaries
• Special considerations for naming children or individuals with special needs
• The legal rights of contingent beneficiaries before and after activation

LegalShield offers affordable estate planning support, including lawyer-drafted documents, legal consultations, and guidance on properly naming contingent beneficiaries to avoid probate delays and family disputes.

Optimize your estate plan today by understanding and naming contingent beneficiaries—because having a backup plan ensures your wishes are honored no matter what.

Should You Co-Sign Your Adult Child’s Lease? Legal Risks Every Parent Must Know

Your 22-year-old just landed a dream job and found the perfect apartment—but the landlord requires a co-signer. Sound familiar? You’re not alone. Many parents face the tough decision of whether to co-sign a lease for their adult child. While it may feel like the right step to support their independence, it can also expose you to serious financial and legal risks.

In this in-depth guide, LegalShield provider attorney Mike Fiffik from Fiffik Law Group, PC, shares essential insights every parent should know before signing on the dotted line. Learn the key differences between co-signing and guaranteeing a lease, common reasons young adults need support (limited credit history, student debt, low income), and the legal consequences of co-signing—including credit damage, wage garnishment, and liability for lease violations.

Explore smart strategies to protect yourself, such as limiting your financial exposure, setting up automatic payments, requiring renter’s insurance, and reviewing lease renewal terms carefully. Plus, find alternatives to co-signing, like offering a larger security deposit, prepaying rent, or using third-party co-signer services.

Before committing, seek legal advice to understand your rights and responsibilities under state law. Supporting your child’s rental journey shouldn't come at the cost of your financial stability. Visit LegalShield’s Renters Resource Center to learn how legal coverage can give you confidence and peace of mind.