Anyone executing an estate plan knows the popular advice about avoiding probate. However, it can be helpful to consider the benefits of dividing your assets under the court's supervision. The probate process can facilitate the distribution of your estate in...
Estate Planning
Does the probate process follow the will exactly?
Probate is a necessary part of administering the terms of a will. While not all wills go through probate, it is a crucial process in most cases for the sake of validating the intent of the deceased. A will is the most basic and essential part of one's estate plan. If...
Estate planning for second marriages may need special handling
Getting remarried may leave you with unique estate planning needs. Caring for your children after your death may force you to implement different strategies. You and your future spouse may want to discuss how you want your estate handled. Otherwise, you may...
3 key people to address in an estate plan
There is more to an estate plan than creating a will. People with children or other loved ones they care for probably consider who they will name as guardians for their loved ones after they pass, but there are additional important roles to fill in every estate plan....
What happens during probate?
If you have been putting off writing a will, you are not alone. In fact, almost 70% of Americans have not yet arranged for the disposal of their assets after their deaths. Still, regardless of whether you have a will, your estate likely must go through the probate...
Protect your future with this estate planning tool
When organizing a plan for your estate, you need to appoint a trusted person to act in a legal capacity if you become temporarily incapacitated. The person you appoint in your power of attorney handles your property to maintain your finances when you cannot do so. ...
What end-of-life issues can your living will address?
If you have a chronic or terminal disease, there are many medical treatments available that can extend your life as long as possible. However, you may prefer to let nature take its course. If you have a living will, you can make your wishes known to your doctor and...
Determining if your loved one requires a special needs trust
Caring for your loved one with special needs requires careful planning to provide sustainable support. As the primary caretaker, one of your biggest concerns is who will take over the responsibility of caring for your family member after you pass away. Implementing a...
How often may I change the beneficiary of my will or trust?
You may modify most estate planning documents as often as you wish until your death. If you need to make a change to your will, you may execute a codicil to name a new beneficiary or remove an existing one. Major life events such as a marriage or divorce may motivate...
What are the benefits of a living trust?
Estate planning is not a ‘one size fits all’ situation. Depending on your specific situation, you may require different documents and planning strategies than someone else. A living trust is a document that may be extremely beneficial to your situation. While you may...