Creating an estate plan is the smart and responsible thing to do. It ensures that your heirs and family will know what you want to happen with your assets after you pass. Your estate plan also includes things like the medical power of attorneys and more. Because of...
Estate Planning And Probate
A trust can protect your child’s inheritance after divorce
You’re able to leave a fair amount of money to your adult children. They’re mature, intelligent people, and you trust them to use it wisely. However, you’re not crazy about the idea that their spouses could have access to it. Even worse, you’re concerned that in a...
Common estate planning mistakes that can ruin your legacy
When you think about creating your estate plan, your primary focus is probably to set out a road map for the distribution of your assets to your designated heirs when you pass on. When completed adequately, an estate plan can give you peace of mind knowing that your...
Does your estate plan help protect your biggest assets?
Different people create estate plans for very different reasons. If you have children, naming a guardian might be your biggest concern. If you own a business, naming your successor might be your main focus. One reason people update or create an estate plan is to...
What roles do taxes play in estate administration?
Handling someone's estate as an executor means finalizing all of their personal matters. You need to collect, secure and inventory their property. You will have to file paperwork with the probate courts. You have to pay off their debts, and then you will be able to...
What documents should you include in your estate plan?
An estate plan isn't just a boilerplate document that you've downloaded from the internet for yourself. Instead, it is a collection of documents and instructions that protect you if you having a medical emergency and that protect your wishes if you die. You will need...
Thinking about estate planning? Here are crucial questions you need to ask yourself
Estate planning may not be one of the most exciting things to think about, but it is one of the most important decisions you can ever make for your future, estate, and loved ones. A valid estate plan ensures that your wishes are followed when you are no longer...
The benefits and perils of a spendthrift trust
As you weigh your options for estate planning, one topic that frequently arises during these discussions is funding a trust. There are all sorts of trusts set up for various purposes, but today we will focus on one type of trust. A spendthrift trust can be a useful...
Why family vacations and other holidays may be a good time to discuss estate planning
Families, and especially those of means, often find themselves embroiled in heated disputes over contested wills and trusts when a loved one passes. Many of these are completely preventable. Communication is often the reason that conflicts emerge. You can end that...
When did you last update your estate plan? It may be time
An out-of-date estate plan could give money to the wrong people. For instance, if you fail to update your estate plan after divorce, your ex could inherit assets. An out-of-date plan could omit people you care about and lead to family disagreements. For example, you...
