When young parents have a new child, they may draft an estate plan and choose a guardian for that child. If they pass away, they want to know who is going to take care of the child in their place. Choosing a guardian helps to give them a sense of security about the...
If you draft a power of attorney, you are turning over your right to make certain decisions to someone else, who is known as your agent. A very common example is a medical power of attorney. Your agent is then allowed to make medical decisions on your behalf,...
Many estate disputes are conflicts between beneficiaries revolving around sentimental items that their parents owned. These are items that the beneficiaries have an emotional connection to, but they may have little financial value. For example, perhaps their father...
When someone passes away with a will in place, the court typically appoints the named executor to oversee the probate and estate administration process. If no executor is named in the will, the court will appoint an estate administrator. Regardless of how they...
If you are part of the “sandwich generation,” those raising children while also caretaking for elderly parents or other relatives, you may be frustrated with your parents dragging their feet about planning for their golden years. The following tips may make it easier...
Even a well-drafted trust can miss assets you never transferred into it. When that happens, your estate plan loses its full protection. A pour-over will closes that gap so everything you own ends up where you intended. Here’s why it matters and how to make it work for...
One often overlooked estate planning tool is a simple Totten trust. Also known as payable-on-death accounts, they can add privacy to your estate plan. Below is some important information to anyone looking for nontraditional options for their comprehensive estate plan....
Estate administration can feel like a maze during an already difficult time. The process asks you to manage money and expectations while honoring a final set of wishes. Having a clear plan and careful records will keep the work steady and reduce stress for everyone...
Putting off estate planning is very much the norm here in the United States. While all adults should put one in place as soon as they legally can, statistics show that most people do not. There are vast numbers of people in every decade of life who still do not have...
It is a good idea to update your estate plan periodically. This is especially true if you wrote it at a relatively young age. Your life circumstances are going to change, and you may need to make alterations based on marriage, divorce, a medical diagnosis, changes to...