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...
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Estate Planning
Using life insurance to fund a trust
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...
5 things to understand about estate planning and trusts
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....
Who should you choose as an agent in your power of attorney?
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...
Will your children inherit your debt?
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...
Irrevocable trusts can be valuable in estate planning
People who are creating an estate plan have various options they can use to ensure their assets are passed to their intended beneficiaries. One of these is trusts, which are set up as either revocable or irrevocable. A revocable trust is one that the creator can...
How young adults can benefit from basic estate planning
If you’re a young single adult living on your own for the first time, you’re probably finding out that adulting is hard. You have to pay rent and utilities, do your own grocery shopping and schedule your own dental appointments. You should also add estate planning to...
Can a will beneficiary also act as the executor?
When creating a will, one of the most important decisions you’ll make is who should act as your executor. This is the person who will manage your estate and handle everything after you pass away. Naturally, you want to appoint someone you deeply trust, such as a...
Administering an estate when siblings are fighting
When siblings make disagreements known during the administration of an estate, even simple tasks associated with the management of that estate can become complicated. In these scenarios, a personal representative or executor must follow legal procedures while managing...
Estate planning with trusts for multiple special needs children
When you’re raising more than one child with special needs, you may often worry about their future security. An estate plan equipped with powerful documents like trusts can help, but there are many considerations. The goal for most families is to preserve access to...
