You will include many important features in your estate plan to ensure your passing is easy for your family. For example, you’ll likely assign someone as an executor of your estate to protect and maintain your property and assets. Additionally, you’ll name your...
One type of medical document that people sometimes use when they are doing their estate planning is known as a DNR order. DNR stands for “do not resuscitate” order. Essentially, if a patient’s heart stops beating or they stop breathing, they do not want medical...
If you accepted the responsibility of administering the estate of a deceased friend or loved one, expect to take on many tasks. You must pay off their debts, inventory their assets and file their final income tax return, for example. It is also your responsibility to...
Many people understand why they would need a guardianship for a child who is a minor. As they make their estate plan, they may choose a guardian so that, if something happens to them and their spouse, they know that this other individual will care for their child....
People are often very aware of the fact that they are going to pass away with assets. They want to make sure that their assets go to their children. They create an estate plan so that they can do things like determining who gets which assets, reducing the amount of...
A will must go through probate before the distribution of the estate to the beneficiaries. The court-controlled process is supposed to validate the will and ensure all claims to the estate are settled before the heirs receive their portions. Ideally, it should be a...
In many situations, after someone dies, the probate process is simple. It’s straightforward and doesn’t cause many issues. However, there are situations where the beneficiaries of an estate plan will experience quite a few speed bumps during probate. If you aren’t...
A medical power of attorney is a document that you can use when you’re doing your estate planning. It is similar to an advance directive that provides medical instructions for a doctor or care team. But instead of specifically providing instructions, This document...
During your lifetime, you tried to ensure that your loved ones and future beneficiaries got what they needed to lead full, productive lives. After you pass away, you want to continue to provide for them with a trust fund. The problem is that one or more of your heirs...
As you start to get older and begin looking into building up an estate plan, one of the things you have to think about is how you’re going to protect your assets and pass them on to those you love. You have a few options, but many people believe that a will is the...