It’s often assumed that elderly individuals need estate plans, or at least those who have recently retired and are getting their finances in order. It’s fairly natural for people to think that they don’t need to worry about estate planning until they reach that stage...
Estate Planning
Estate Planning
How do irrevocable trusts protect assets from creditors?
When you leave your heirs assets and property through a will, you expect them to properly manage the wealth you worked so hard to acquire and, if possible, pass it down to future generations. However, unexpected life events can come in the way of that. Picture a...
How do I choose the right trustee for my estate?
Including a trust in your estate plan can give you more control over your assets even after passing on. Once you set up a trust, you need to figure out how it will be managed. And this is where a trustee comes in. A trustee is an individual or entity that acts as the...
After you pass away, who pays the bills?
When someone passes away unexpectedly, they probably have a lot of outstanding bills. This can also be true even when the passing is expected. It’s simply very difficult to take care of everything in advance because you can’t necessarily predict exactly when this...
Why do people count on trusts for estate planning?
When some people think about estate planning, they only consider wills. They may not automatically think about trusts. There are some very specific benefits that trusts provide that aren’t associated with wills. Understanding a few points about trusts is important so...
Should you wait until you retire to do your estate planning?
You know that you want to make an estate plan because you have heirs that you love, and you're going to pass your assets on to them. In fact, you're hoping to sit down and talk with your heirs about a lot of your assets so that you can all work together to create a...
New baby? It’s time to update your estate plan
It is an almost magical time in your life when you find out that you’re having a child. At the same time, there can be many fears that come with the idea of bringing a child into the world. Among them may be a concern about what will happen to your child if you or...
What qualities should you look for in a power of attorney?
Most people focus on their assets when they’re creating an estate plan. There’s another component of estate planning that you need to think about when you’re trying to get everything together. This has to do with taking care of your affairs if you’re incapacitated....
Can you leave part of your estate to your pet?
Your children and your real estate aren't the only considerations when you create your estate plan. Whether you have a dog, a cat or a macaw that will live for several more decades, you may want to provide for your companion animal when you plan your estate. The idea...
3 reasons families fight over a will or trust
Everyone has good intentions when putting together their will or trust. You may want to ensure your children’s education is funded, your spouse can live comfortably and your friend has a nice summer home. You may put away something special and meaningful for everyone...