Protecting Your Legacy
Many people are quick to tell parents that they need to establish estate plans. After all, their children are fully dependent on them. Should a parent die or become incapacitated, their children may be left without basic, necessary support. New parents who draft wills...
There are many different documents that people can add to an estate plan. Most people are familiar with wills which allow individuals to name specific beneficiaries to receive their assets, assign someone the role of guardian and nominate someone to act as their...
People tend to dislike contemplating unpleasant scenarios. It makes sense then that most people don't like to think about what happens after they die. Many people put off estate planning until a personal experience forces them to prioritize the process. Many others...
Adding a trust to an estate plan can result in a host of different benefits. Trusts could help people qualify for government benefits later in life when they live on a fixed income. They can give an individual more control over how their family members use inherited...
An estate plan is as much about the peace of mind of the testator as it is about the financial protection of their closest family members. Estate plans outline who will receive property from an estate and also provide guidance for scenarios wherein an individual...
Trusts are very powerful tools for protecting oneself and establishing a meaningful legacy. Many modern estate plans make use of trusts. Although some people think of a trust as a tool for the incredibly wealthy, many middle-class and working-class households can also...
Your estate plan can be as unique as you want it to be. Rather than just leaving umbrella instructions to divide your assets evenly among specific people, you can go into minute detail if you so desire. Addressing your most valuable property individually can be a...
As a child, you probably had total faith in your parents. When you were a young adult, they were your example for how to establish a career and manage a household. As wonderful as it is to get multiple decades of adulthood to share with your parents, it can be hard to...
Estate administration or serving as the executor of someone's estate is a difficult and often thankless job that can require months of unpaid work, detailed record-keeping and double-checking. Given how detail-oriented estate administration is, it is not surprising...
You may have felt relieved to know that your parent prepared an estate plan before passing away. An estate plan can relieve a family of much confusion and tension because it clarifies the goals and wishes of the deceased. This may reduce or eliminate the chances of...
