Almost everyone has heard of trusts, typically in reference to someone or something who is the beneficiary of one. Some may believe that only wealthy people have trusts, but they are common and useful tools when creating estate plans of all…
You can appoint a trusted individual to make decisions or conduct transactions on your behalf using a power of attorney. They could be related to personal finances, business operations, or medical needs and used for a single immediate purpose or an…
Whatever the case, whether it's identifying someone to be your estate's executor or you accept the responsibility of being the executor, there are certain factors to consider - the complexity of the job and the order in which to accomplish…
Estate planning is essential to most older adults. Still, nearly half of Americans age 55 and older have no will, and fewer still have powers of attorney, a living will, or health care directives. You can use these documents to…
For estate planning purposes, there are many different trust types; the two most common are revocable and irrevocable. While there are some similarities between these two types of trust, their purposes in your estate planning are quite different. Although trusts…
You may not agree with your children, including minors and adults, regarding family circumstances, particularly when it comes to inheriting your estate. When you die, relationships can change and become more intense as underlying issues arise, causing tensions about your…
Creating an estate plan can ensure that your assets, interests, and loved ones are protected after you pass away. Unfortunately, many individuals make costly estate planning mistakes without proper advice and guidance from a qualified estate planning attorney. Poor planning…
In human history, there has never been a financial period like this. America is on the verge of one of the largest wealth transfers in history as baby boomers prepare to pass on their legacies. Forecasts show that 68.4 trillion…
Leaving your property to your heirs might seem like an easy task. Having your will or a trust, doing the deed of transfer on death for your real estate, adding your children to your bank account, and naming beneficiaries for…
When parents wait too long to begin instilling family values, it can be difficult to address and legally formalize inheritance. There is no doubt that childhood is the best time to teach and empower your children as eventual heirs of…