As artificial intelligence (AI) continues to evolve, many people are turning to online platforms and AI tools to draft legal documents, including estate plans. While using AI to create a will or trust might seem like a fast and cost-effective approach, doing so is...
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Year: 2025
Can beneficiaries also serve as witnesses to will signings?
Wills help establish an individual’s legacy. A testator provides instructions about who may manage their estate and who might inherit from it. The terms included in a will tend to be deeply personal, but they can also have a lasting legal and financial impact on other...
Should you stagger trust disbursements?
When you’re thinking about a possible future for your child where you’re not around to provide the love, guidance and financial support they might need – setting up a trust naturally comes to mind. But, how can you best set up a trust for your progeny that will...
Is a power of attorney better than a living will?
There are two ways to address making future medical decisions when doing estate planning. First, you can use an advance directive known as a living will. Doing this allows you to leave instructions, such as telling your future medical team that you don’t want to be...
How to “divorce-proof” your child’s inheritance
If you’re like a lot of parents whose adult children will be inheriting considerable assets when you pass away, you probably have emphasized the importance of getting a prenuptial agreement before they tie the knot to help protect those assets should their marriage...
What is undue influence?
It is not always a legal issue if someone has an influence over another person’s estate plan. For instance, an elderly parent may intentionally discuss the estate plan with their beneficiaries, looking to get feedback so that they can create a plan that works well for...
Estate planning for young adults
Estate planning is just as important for young adults as it is for senior citizens. Once a child reaches eighteen, parents lose legal authority to make decisions or access information about their child without consent. If a medical emergency occurs, parents may have...
What should you know about trusts in your estate plan?
A trust is a valuable tool that you can use to manage and distribute your assets. As part of a comprehensive estate plan, trusts can offer flexibility, privacy and other benefits for you and your beneficiaries. Unlike a will, which has to go through probate, a trust...
Is a mortgage inherited along with the house?
As a general rule, children do not inherit their parents' debts. If a parent passes away and still has remaining credit card debt, for instance, the estate executor uses funds from the estate to pay down this debt. Children may inherit a smaller amount of financial...
Can you leave your home to multiple beneficiaries?
As you create your estate plan, you may allocate specific assets to certain beneficiaries. For example, if you have three adult children, you might leave your investment portfolio to one, your vehicles to another and the contents of your bank accounts to the third....