Creating an estate plan is the responsible thing to do. The average estate plan includes multiple documents, including a will, an advance medical directive and power of attorney. With everything that goes into creating an estate plan, you may not realize some issues...
If you are named as the executor of an estate, it is essential to know your duties. An executor is responsible for wrapping up the deceased's affairs and carrying out their final wishes. There are many things to consider when administering an estate, so it is...
Creditor claims can be a major complicating factor during estate administration. The more debt someone has, the less property they can pass on to their loved ones when they die. In most cases, the right of creditors to demand repayment supersedes the right of family...
If you have worked hard your entire life and made wealth, it only makes sense to figure out how to protect it. One of the most effective estate planning tools you can use to protect your legacy and loved ones’ future is a trust. Besides reducing the value of your...
When you create a will, you do so for two main reasons. Firstly, you want to be sure that your hard-earned assets will pass down to your intended heirs when your die. And secondly, you want to take the guesswork out of the equation and eliminate potential disputes...
If you haven’t done your estate planning, you know that medical emergencies can still happen as you grow older. You may be at greater risk for a heart attack or a stroke, for example. There are things that can happen that will mean you need to be in a hospital or...
Many important decisions need to be made during one's lifetime, including who you want to make decisions for if you can't make them yourself. This is why it's crucial to name a power of attorney. A POA is someone who has the legal authority to make arrangements on...
Many people who are creating an estate plan focus on their physical assets like their home and vehicle. While it’s true that those are the primary concern for an estate plan, there are other considerations that you need to think about whey you’re making the plan....
Even if you haven’t done your estate planning yet, you probably understand that it’s important to do at some point. You may not feel like you have that many assets, but you will have something to pass on. You can also use your estate plan to make medical decisions in...
When you have significant assets, you must do sophisticated estate planning to assure that your heirs and beneficiaries receive the bulk of your estate and that your assets remain protected. One particular tool you might want to employ is a spendthrift trust. Let’s...