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...
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Estate Planning
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The consequences of having an outdated estate plan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...
Where should you keep your will?
After drafting your will, you should keep it in a safe location. The executor you appoint should not have difficulties finding it when it needs to go to probate. Nonetheless, it should be a private place. This guide discusses four locations you should consider to keep...
3 things to do after you update your will
Your first will may not be the one that will be submitted to probate. You may need to update it when circumstances change. You can do this either by revoking your existing will and creating a new one or writing a codicil to supplement your current will. What should...
How can you update a will?
Life will continue after you have written your will, making it outdated. Thus, you need to update your will when things change. This may not mean omitting or adding information to your existing one. Since it's a legal document, you need to take certain steps to make...
Should you name an alternate executor in your will?
When writing your will, you will appoint an executor to ensure your wishes are fulfilled. In addition, they may be in charge of all your estate documents. Thus, you need to pick a reliable party. Nonetheless, it may also help to have an alternate executor - this is...
Why should you think about having a revocable living trust?
When it comes to estate planning, the number of options available can quite easily make the whole process feel overwhelming. How are you supposed to know just exactly what you need and what’s right for you, your family and your assets? Family and friends might be...
