When you think of trusts, you probably imagine some wealthy family living off the funds of a tycoon ancestor. And, while there are plenty of “trust-fund babies,” you don’t need considerable wealth to create a trust fund. There are plenty of good reasons why anyone...
Let’s face it, we live in a highly litigious society. Sometimes, unfortunately, a dissatisfied family member can go to court over a will. And as you can imagine, this can prolong the probate process and sow lasting seeds of animosity. It can also eat up a huge chunk...
An estate plan should be updated periodically. Some people do this just by determining the frequency of those updates. They decide they want to update the plan every three to five years, for instance. But this can sometimes be problematic because there are certain...
Having a legal will in place can help your family and friends understand how you wish your estate to be handled after your passing. You can use your will to designate a personal representative to handle the probate process, clarify your wishes regarding the...
Moving into a nursing home is a decision many people would prefer to avoid if possible. While it is a smart move to plan for aging in place early in the retirement process, those preparing for retirement also need to accept the possibility that they might require...
In order to make a valid will, it is crucial that you satisfy certain legal requirements. One of these is the testamentary capacity to sign the will. Basically, this means that you need to be of sound mind, memory and understanding at the time of signing your will. A...
Trying to ensure the long-term care and financial security of a loved one with special needs can result in unique estate planning challenges. It requires careful consideration to strike a balance between providing support and preserving crucial government benefits....
When creating an estate plan, you will consider different factors, including the party that will ensure your wishes are fulfilled and manage your property before distribution. Personal representatives play an integral part in estate planning. Thus, you should be...
There are many reasons you may decide to leave someone who would usually inherit out of your will. Perhaps one has wronged you, or maybe you just think they have enough money already. How you go about it can reduce the chance you leave problems in your wake. Here is...
You may think that writing your own will using a template or online resources is a simple and cheap way to distribute your assets when you are gone. While it may seem so now, a do-it-yourself (DIY) will can leave your loved ones in a tight spot when you are gone or...
