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...
Maybe you’re fresh out of high school and contemplating your post-secondary path. Or, you’re a 20-something attending graduate school or working professionally. Whatever stage you are in your young adult life, it’s time to consider creating an estate plan....
An estate executor must perform many tasks when administering the decedent’s estate. Most people work hard performing their duties and ultimately do an adequate job. Unfortunately, not everyone is cut out to take control of an estate and manage it prudently. Mistakes...
Estate plans can help people address many of the uncertainties that are commonly associated with the later stages of life. They can provide support for their loved ones and find a way to leave a meaningful legacy when they die while also addressing their medical needs...
A Totten trust, also known as a payable-on-death (POD) account or an informal trust, is a type of bank account that you can set up to transfer funds to a designated beneficiary upon your death. Accounts that are covered by this type of trust shouldn’t be included in a...
If you’ve never been through the estate planning process before (or even if you’re just updating things now that you’ve reached a new stage of life), there’s one word that can be used to describe it: Confusing. It doesn’t have to be this way, though. Working with...
Estate planning is the legal process that largely revolves around distributing your assets upon your death. That being said, there are also other aspects. For example, you can assign someone to manage your healthcare needs and financial interests should you become...
