There is a common misconception that estate planning is only reserved for rich people with many valuable assets. The truth is that estate planning is appropriate for anyone with any number of assets, even minor ones with little to no monetary value.
Don’t wait until you’re old to create a last will and testament for your estate. We’d all like … Read the rest
A primary beneficiary must be named when you create a living trust, a retirement account, or take out a life insurance policy on yourself. This particular beneficiary is the first person entitled to receive your assets after you die. But if the primary beneficiary dies first or their whereabouts are unknown, your assets will transfer to the person you name … Read the rest
Are you planning to leave the property of your estate to family members or friends after you die? If so, you’ll need to prepare a document called a “last will and testament” or “will” so you can leave different parts of your estate to the people you care about the most.
A will lets you specify who you want to … Read the rest
More than 90 million Americans have pets in their households, but the vast majority of these individuals don’t think to make any kind of allowances for what should become of their pets in the event of their demise. Comprehensive estate planning should include some kind of provisions for care of your pet when you pass on, so those decisions … Read the rest
Estate planning is not a process that people go through very often. In fact, for most people, it’s a once-in-a-lifetime procedure. This accounts for why so many people make estate planning mistakes. It’s simply an unfamiliar process that you just don’t go through very often. To avoid making some of the same common mistakes that most people do, you should … Read the rest
A general estate plan often includes a trust. Its purpose is generally to provide for underage relatives who are unable to provide for their own care. It can include family pets as well. Sometimes it is also prepared as a guarantee that the preparer’s exact wishes for the distribution of assets are carried out fully and precisely. When a trust … Read the rest
Have you taken the time to set up your estate plan? If you said yes, congrats! If you haven’t done this yet, there’s no time like the present. In case you are not aware, an estate plan is basically a legal document that states what happens when you either become ill and incapacitated or after your death. We understand this … Read the rest
Did you know when you list a person as the executor of your estate, that person does not automatically get the job? The probate court must appoint that person as executor before they can handle your affairs. This shouldn’t stop you from nominating a person as your executor though. Most of the time, the person you nominate will be the … Read the rest
Taking the time to create an estate plan is an excellent way to ensure you, and your heirs, are taken care of in the future. However, how can you be sure you are choosing an attorney who has your best interests in mind? There are three things we recommend looking for when searching for an estate planning attorney. You might … Read the rest
Too many people seem to think that since they have a mortgage on their home, they do not need to go through the hassle of creating an estate plan. After all, that seems to be the easiest way, because it doesn’t take any time. However, there are numerous reasons why not having an estate plan is a bad idea. Having … Read the rest
