If you ask potential beneficiaries if they think their parents are going to split up their estate evenly, most of them may say that this is what they expect. However, studies have recently found that unequal bequests are growing more common and are used much more than...
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Estate Planning
Do you need a letter of intent for your estate plan?
A letter of intent is a document that explains what you want regarding your assets and how they should be managed or distributed after you pass. It serves as a roadmap for your heirs and executors. The letter of intent offers guidelines for those handling your estate....
Taking legal action if someone suspects will-related undue influence
People usually think of probate proceedings as a technicality required to settle someone's financial obligations and oversee the distribution of their personal property to their heirs and beneficiaries. For many estates, probate oversight is a technical requirement,...
You probably cannot address all your property in a final will
Your will is critical in allowing you to retain a measure of control over your estate assets in death. For example, it empowers you to name who will receive your money, property, and personal items after you leave the world. You can address many of your assets in a...
What is the difference between a revocable and irrevocable trust?
Trusts are powerful tools that allow people to manage their assets and wealth strategically. A trust can enable you to hold assets on behalf of a beneficiary of your choice. Among the various types of trusts, revocable and irrevocable trusts stand out as two primary...
Why you should update your will when you’re expecting a newborn
Preparing for the arrival of a newborn is an exciting and joyous time. Amidst all the anticipation, it’s essential not to overlook an important aspect of your future planning: updating your will. Many people may not realize the significance of this step, but helping...
Unmarried but coupled? You need an estate plan
Not every couple decides to formalize their union with marriage. Some may remain unmarried so they don’t lose benefits from prior divorce settlements. Others may need ecclesiastical annulments before they can remarry according to the tenets of their religions....
Will you inherit your parents’ debt?
Your parents may have far more assets than you, something that is growing more common as the wealth gap expands in the United States. You know that you will eventually inherit those assets as part of their estate plan. However, you are also worried that they may have...
Talking to your parents about estate planning
No one ever wants to think about, or plan for, a time when their parents are no longer with them. It’s often too painful to think about and it’s hard to watch them get older. If your parents have started to talk to you about their will or what to do with their house...
The consequences of having an outdated estate plan
Estate planning is essential as it ensures that after someone dies, their property goes to the intended beneficiaries. Unfortunately, most people view estate planning as a one-time thing. However, it is essential to update your estate plan regularly. There are...