Estate Planning

Parents of adult children whom they plan to bequeath considerable assets are often concerned that those assets will only go to pay off their child’s debts. There are trusts available that can help shield assets from creditors. However, they don’t always guarantee that...

Drafting a valid will can give a testator peace of mind. They can feel confident about the care of their minor children and the distribution of their property after they die. The person drafting the will must be an adult who is of sound mind. They must make estate...

Your estate plan does not need to divide your assets equally. You are fully free to use unequal bequests if you believe that is the correct course of action. If you have two children, for example, it is up to you if you want to give them both 50% of your assets or if...

One of the most common mistakes people make with estate planning is failing to update the plan. People will create a plan when they are relatively young, being proactive about planning for their future. However, they will then neglect that plan for decades. When they...

In some cases, those who are developing an estate plan are worried about what would happen if they passed away relatively soon after putting that plan in place. Some of the beneficiaries that they have selected may still be children or teens. While they do want to...

Testators creating estate plans frequently worry about conflict after they die. Parents may worry about their children fighting over their property. Testators might even anticipate a particular family member contesting their will due to family conflict or a personal...

A trust is an estate planning tool that can provide long-term support for children and other dependents. People can possibly even leave a multi-generational legacy with proper planning and funding. Some people might assume that they are not in a position to establish...

Estate planning is not only for the wealthy or elderly. It is a practical step for anyone who wants clarity over how their assets and personal decisions are handled in the future. Trusts are often a central part of this planning and can offer structure and protection....

A power of attorney is a document that gives someone else the ability to take certain legal steps on your behalf. You can authorize someone to make legal decisions, financial decisions, medical decisions and much more. If you become incapacitated, then this person...

As you make your estate plan, you carefully consider what assets you want to leave to your adult children. You may have family heirlooms or items with sentimental value that you want to divide deliberately to avoid conflicts. You may also need to determine how to...