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One of the primary reasons why people write wills is to create order while preventing conflicts from potential heirs. Done right, a will can give you peace of mind knowing that your assets will pass down to their rightful heirs after your death. However, there are...
You know that it's smart to make an estate plan as a new business owner. Perhaps you're also a parent or you have significant financial assets. You need some plan to pass these on to your heirs. What you decide to do is simply to write a will. This way, you can leave...
You like your business partner a lot, and it’s been a productive partnership, but you never particularly considered putting your business partner in your will or involving them in your estate plans. Maybe you should. In fact, you should probably be in theirs. At the...
For many people, having an estate plan isn’t just about leaving money and other assets to their family. It’s about having a say in their own legacy – what they will be remembered for after they’re gone. Certainly, that can include leaving donations to non-profit...
The overall aim of estate planning is to provide future protection for you and your loved ones. As many aspects of an estate plan will not come into play until you are either seriously unwell or dead, you must name people to fulfill specific roles on your behalf. Here...
When you leave behind a will, your heirs will have to wait for a while before assuming ownership of their portion of the estate. Everything has to go through the probate before distribution to the beneficiaries. Usually, the courts oversee the entire probate process....
Many people fail to update their estate plans regularly, and when they are gone, their estate ends up in the wrong hands. Deserving beneficiaries could even be left out, leading to irreconcilable differences pitting family members against each other. Therefore, you...
As you get closer to the end of your life and you begin thinking about estate planning, you decide that you don't really need to make a plan. You never got married or had any children. You have no natural heirs, so there's no need to determine how to split your assets...
The relationship between the person appointed to be a trustee and the beneficiary the trust they’re overseeing may not always be a friendly one. Often a particular trustee is chosen, at least in part, because they’re strong enough to stand up to pressure from the...
If you are involved in an accident or have an illness that impacts your ability to make medical decisions yourself, you will want to have a health care proxy and living will. The health care proxy document is particularly important because it allows another individual...
