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Creating an estate plan requires you to make a lot of decisions, some of which have to do with who is going to get which of your assets. This isn’t always easy to decide, but it’s critical that you set up your plan in a way that’s legally enforceable once you pass...
Making medical decisions can be a major part of your estate planning. There are two ways that you can do this, the first of which is with a living will. The second is with a medical power of attorney. A living will can be fairly simple. Essentially, you just make...
You can give one or more people power of attorney as part of your estate plan. As a minimum, you want someone to take care of health care decisions and someone to take care of financial and legal matters, although they could be the same person. Many people choose...
People who are creating an estate plan must ensure that they consider every option for getting their assets to their loved ones. While most people focus on wills, trusts shouldn’t be left out of the possibilities. When you’re looking into trusts, you’ll notice that...
Whether you’re in the Boomer generation, Gen X or that in-between Generation Jones (people who grew up in the 1960s and 70s, you may have a healthy amount of assets to include in your estate plan. Some may be assets you’ve worked hard for. Some may have been handed...
You may know that creating a trust can protect your assets and provide for your loved ones after you pass away. But what does it mean to fund the trust? Where do you start? Funding a trust involves transferring ownership of your assets into the trust. It can help to...
Dying without a will, or "intestate," means that your estate will be distributed according to the state's intestate succession laws. These laws determine how your assets will be divided among your surviving family members. Here’s what happens if you pass away without...
An estate plan largely revolves around distributing your assets among loved ones once you die. However, this is only one part of the process. Throughout your life, giving back to the community may have been one of your passions. This is something that can be...
If you have an heir or beneficiary with special needs, you know that it may take a bit more consideration to include them in your estate plan. You do want to leave them an inheritance, and you can see that they may benefit from it more than other beneficiaries. There...
All adults need to ensure they have an estate plan in place that provides specific instructions for their loved ones. There are several components of estate plans to think about, some of which have to do with getting assets to their beneficiaries. The creator of the...