Adults create an estate plan so their loved ones have instructions about how to handle their final affairs. Some adults assume this is a one-and-done event, but it’s critical that they realize that all estate plans must be updated periodically. Estate plans must be...
Creating a valid will is one of the most important steps in any estate plan. It provides direction for how assets should be handled and gives clarity to loved ones during an emotional time. Without a valid will, an estate may be settled in a way that goes against the...
If you want to support a cause you care about, your estate plan can allow you to do so. Charitable giving through your estate is a way to create a lasting legacy. There are several ways to include a gift to charity, with trusts being one of the most flexible options....
A major task that you must handle when you’re getting an estate plan together is making sure that you have a plan for every asset. Many people focus on the larger assets, such as investments and their home, but there’s another asset that might be overlooked—bank...
Many people's first introduction to a blended family came from watching "The Brady Bunch." These days, blended families make up about half of America's households. These family dynamics have an impact on multiple areas, including daily chores, vacations, holidays and...
You are not happy with the way that one of your potential beneficiaries spends their money. You know that you would like to leave them an inheritance, but you are afraid they’re just going to waste it. As a result, you’re thinking about removing them from your estate...
An irrevocable trust can be a powerful tool for protecting assets, reducing estate taxes and helping ensure a smooth transfer of wealth. However, it’s not something to rush into. Unlike a revocable trust, which allows you to make changes, an irrevocable trust locks in...
For many, family is the most important asset you can have, and ensuring their well-being is a top priority. You want to make sure that even after you’re gone, they're cared for and supported in the way you intended. Without a plan in place, important decisions could...
You’ve spent a lifetime building a legacy, and now it’s time to create an estate plan that reflects your wishes for the future. It's more than just the paperwork and legal formalities. It’s also about peace of mind. You do not want to leave your loved ones guessing or...
Many people procrastinate estate planning, saying they don’t want to do it too soon. For instance, they may want to draft a power of attorney so that another person can make healthcare decisions for them if necessary. However, they hesitate to do it while they are...