A will is the starting point of an estate plan. This document allows the testator to provide instructions on how their assets should be distributed upon their death. The assets go to the beneficiaries. These are often family members and close friends, but they can...
Protecting your loved ones after you pass away is likely a top priority. However, some situations complicate these plans. One is if you have a blended family. Here, you can find tips for estate planning with a blended family. Understand your family dynamics Blended...
With a medical power of attorney, you don’t have to worry about what will happen if you are incapacitated due to injury or illness. You may not be able to communicate with your medical team, but you can pick an agent who will. They help to make these healthcare...
If you are charged with executing someone’s estate, then one of the first things you must do is create an inventory of their assets. Knowing how to do this will be crucial to the smooth running of the rest of the probate process. Here are some pointers to consider:...
When you put your estate plan in place, you knew you’d likely need to amend it when family changes and life events warranted it. If you’re preparing to divorce or already in the process, that definitely qualifies as both. It’s important, however, to understand what...
People who are creating an estate plan should make a list of all their assets so they can ensure they have them all named in the plan. You have several options for doing this. Some choose to write a will and others may opt for trusts. One specific type that you might...
Being named as an estate executor comes with various responsibilities and challenges that you should anticipate to navigate probate effectively. You do not want to end up with costly legal or financial liabilities as an estate executor due to avoidable mistakes. Below...
In life, uncertainty is the only certainty. Illnesses or accidents can strike unexpectedly and leave you unable to communicate your medical wishes. This is where a living will comes in. It puts you in charge of your healthcare decisions if you cannot express yourself...
In some cases, beneficiaries will already have discussed the estate plan extensively. For instance, an elderly parent may have had family conversations with all of their children and their spouse. Anyone who is planning to inherit already knows what the estate...
People who put an estate plan in place long before they anticipate it will be needed are doing the smart, responsible thing for their families and their legacy. And, it’s important to remember that estate planning is an ongoing process. Estate planning is all about...