When people go to plan their estate, they may be given the option to write a will or use a trust. Wills and trusts, while they may seemingly act the same, have very distinct differences that make each unique for their purposes. You shouldn’t have to be on the fence...
Estate Planning
Where should you keep your will?
Creating an estate plan, or just a will, is the responsible thing to do. After all, this document will ensure your family and beneficiaries know how you want your assets dispersed after you pass. However, what’s the point of creating a will if no one can find it after...
Special needs trusts may just be what your loved one needs
Estate planning for a beneficiary with special needs should be done carefully. To ensure that their interests are well looked after once you are gone, you may need to do things differently. For instance, while you may want to pass over assets and properties to your...
Has your estate plan become outdated?
A lot of people think about estate planning as a “one and done” process. They may form the impression that once they have a will drafted, they never have to think about it again. Estate plans tend to reflect the needs of family members, and families rarely remain...
Is your legacy vulnerable if you have medical issues as you age?
Whether you have drafted a will or created a trust, your estate plan allows you to pass property to the people you love or the causes that you value when you die. Your biggest assets, like financial accounts and your primary residence, are likely among the property...
Approaching family members about their estate plans
Estate planning is an important subject, but that doesn’t mean it’s easy to talk about. Perhaps you have recently taken steps to protect your family’s inheritance, and are concerned that your parents have not done the same? How do you approach them about such a...
When should you create your estate plan?
An estate plan is not a preserve for the old and wealthy folk. If anything, you should have one if you are a legal adult. You don’t have to own much to have an estate plan. It is still worthwhile to plan how everything should be dealt with when you are gone. For...
3 ways to avoid probate
Probate is the court process through which a deceased's estate is distributed. It is usually initiated by your estate's executor or an administrator. During the process, the court validates your will and authorizes your executor to distribute your estate to your...
Pros and cons of storing estate planning documents online
An increasing number of Americans are beginning to understand why they need to draft their estate plans long before they become senior citizens. This has led to an uptick in testators looking for ways to store these important legally binding documents. Few testators...
3 times you should consider updating your estate plan
One of the only certain things in life is change. When you first created your estate plan, it was tailored to the circumstance of your life at that time. If you take a look at what has happened in your life since then, it is easy to appreciate why you may need to...