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...
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Estate Planning
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Life will continue after you have written your will, making it outdated.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...
What couples should know about “joint” wills
You and your spouse have decided that it’s time to do your estate planning. You’ve been married for many years, and just about everything you have is jointly owned. You want a simple will that allows you both to leave everything to the other spouse if you predecease...
Why do small business owners need an estate plan?
As a small business owner, you’ll know that the weeks, months and even years go by in a flash. There’s always something that requires your attention and you’re often wearing a number of different hats every day. Being so busy can mean that you don’t get the chance to...
Do you need a digital estate plan?
During the summer of 2022, Forbes Magazine printed an article entitled “New Estate Planning Rule: Don’t Leave an Electronic Mess.” In a nutshell, this is the key concept behind the evolving area of the law known as digital estate planning. Most Americans now spend a...
Should you choose a family member as your executor?
Creating an estate plan is the best way to ensure your wishes will be followed after you pass away. While this is true, there are some important decisions you need to make. An important part of your estate plan is selecting an executor. Many people choose a family...
Important estate plan updates you should make after remarrying
Getting married again after a divorce or the death of a spouse marks the beginning of a new stage. However, your new relationship will affect many areas of your life, including your children’s inheritance. For this reason, it’s essential that you revisit and update...
Your residuary estate may be worth more than you think
It is very easy to make big mistakes when planning your estate. One of the most common planning errors involves a failure to properly identify and value your assets. For example, you may already have created instructions for the descent of your home, your vehicle and...
