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There is no single correct way to do estate planning. Each estate plan should be carefully curated to each individual’s needs and priorities. Nevertheless, individuals must consider all possible components that may benefit their estate. One of the components of estate...
An estate plan is a process of arranging your assets for distribution after your passing. In other words, you’ll designate family, friends and loved ones to inherit from your estate when you die. While that may seem simple enough, estate planning can be complicated....
All adults need to take the time to set up an estate plan that outlines their wishes for after they die. There are several components to consider. Learning about how they all work together is beneficial. As you’re creating your estate plan, you must ensure you aren’t...
Sometimes after a testator’s death, concerned parties might carry out a will contest. A will contest involves disputing the validity of a will in court. What are the grounds for will contests? Here are some of the most common reasons why an individual (or a group)...
Unequal bequests can make things a bit more complicated when it comes to estate planning. Say that you have three children, and you know that all of them are expecting to get an inheritance. You haven’t talked with them about it yet, but they know that you are fairly...
An estate plan comprises numerous aspects that may have to go through the probate courts. One of the most fundamental components of an estate plan is the will. This document outlines how the testator's assets are to be distributed upon their death. It may also include...
Did you know you can create a funeral trust to cover the costs of your funeral? This is created when you make arrangements with a funeral home before you pass away. When you do this, you contract the funeral home ahead of time for your burial and funeral services. ...
The personal representative of someone's estate has a lot of responsibility. They will have to attend probate proceedings and take care of all of the assets in the estate. They also have a responsibility to repay the debts a testator left behind when they died. ...
Many people prefer not to talk with their children about their estate plans. Maybe they have always preferred to keep their financial details private from their kids. Or perhaps they prefer to avoid conversations that could become difficult. Yet generally, it makes...
Estate planning is often the last thing on anybody’s mind. By definition, an ‘unexpected event’ is not on a person’s mind either, but they do happen. People succumb to tragic accidents all the time. While it is extremely unlikely that something will happen to you,...