When you’re setting up a trust, you may be focused on the beneficiary and how the trust will affect them. But it’s also very important to carefully consider who you choose as the trustee. They are the one who will actually distribute the payments and make sure that...
Estate planning is something that every adult should consider. Often, it is thought of as something only relevant to elderly individuals or those with illnesses, but this is far from the truth. Estate planning documents should be founded upon the true wishes of their...
Creating your estate plan requires you to consider every asset you own. For some people, their financial accounts are a major concern. The good news is that you can easily pass these down to your loved ones. Most financial accounts have a payable-on-death...
One thing that you can do with an estate plan is to set up a power of attorney. This legal document gives you the chance to choose an agent. If something happens that means you are incapacitated – such as having a stroke or suffering a serious brain injury – then this...
You know estate planning can allow you to pass your assets on to your loved ones without incurring undue hardships like excessive taxes. You may not realize it, but other interested parties may go after a share of the property meant for your loved ones. Those with...
Planning for the future has become more critical than ever, especially regarding the health and well-being of our aging parents. Advanced directives are legal documents allowing individuals to outline their medical preferences. This also helps designate a proxy to...
Estate planning is generally an ongoing process. People usually need to add to their estate plans and update their documents throughout their lives. They might remove beneficiaries or add new ones, they might even integrate entirely new documents as they age or their...
Writing a will allows people to state their wishes on how their estate should be distributed when they die and the decisions their loved ones should respect if they become incapacitated. A testator (the person who writes the will) usually appoints an executor to...
Undue influence is sometimes alleged when it seems that one heir has influenced a person’s decisions while making their will or their estate plan. Other heirs may feel that they didn’t get what they deserved and that the estate plan doesn’t reflect the elderly...
A life insurance policy can be an excellent way to leave a notable amount of wealth to your heirs. People often take out the policy when they are very young, as it will be cheaper, but you can buy them at any age. If you pass away, the policy then pays out to your...