A will contest can lead to lengthy court battles and emotional distress for your loved ones. Beyond the potential rifts in family relationships caused by disputes over your estate, a challenge to your will can delay the distribution of assets and result in significant...
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Estate Planning
Will your children inherit your debts?
You want the inheritance that you’re leaving to your children to be beneficial for them. You may be passing them tangible assets that they can use, like a family home. You may also just be handing down significant financial assets that you’ve saved up over the course...
Estate planning shouldn’t be delayed
A will provides instructions on how your assets should be distributed upon your death. Trusts manage assets according to your wishes. You can also utilize powers of attorney to meet your medical and financial needs. Estate planning is an important process that all...
What type of person makes a good guardian?
Much of the estate planning process centers around distributing assets on a person’s death. However, one important aspect that can be overlooked is choosing a guardian for one's minor children. A guardian can be nominated by including a clause in your will. The person...
Steps to take as an estate executor
Managing an estate competently and keeping interested parties adequately informed can be complicated. Thus, if you are appointed an executor of an estate, you need to be prepared. Here is how you can do this: Before probate Before you assume your duties, you need to...
Can you leave an inheritance at a later date?
One way to leave an inheritance to someone is to list it in your will. As soon as you pass away, your estate goes through probate. The estate executor should inventory the assets and then give those financial assets directly to the person that you named. But this can...
Choosing a trustee for a special needs trust
When parents have an adult child with profound disabilities, they often seek to protect that child’s future as much as they can by pouring their estate into a special needs trust for that child’s benefit. Special needs trusts are specifically designed not to...
Can you plan your funeral now?
Different people can have very different opinions about what happens to someone when they die. For example, parents or children of the deceased may have a different opinion from the deceased’s new partner. You might wonder if you can preempt things by using your...
Mistakes to avoid when creating an estate plan
Creating an estate plan is an important step in ensuring that your assets are distributed according to your wishes after your passing. There are several common mistakes that individuals make when establishing and maintaining their estate plans. By being aware of these...
Don’t let your estate plan become outdated
Part of the estate planning process is making regular updates during the testator’s life. This is often a forgotten part of estate planning that can lead to probate delays and challenges. Here’s what you should know about updating your estate plan: 5 reasons to...