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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...
The executor of your will is responsible for managing your estate once you are gone. They identify, collect and manage the assets pending distribution to your beneficiaries. An executor is also charged with paying any outstanding debts, taxes, or other liabilities...
There’s a lot to consider when you’re developing your estate plan. Your biggest concern is obviously how you’ll divide your assets among loved ones and charitable organizations that mean a lot to you. Have you considered how you’ll pass down information about your...
It is highly likely that you will be at least somewhat familiar with the purpose of a last will and testament, even if you do not yet have one in place. Living trusts, however, are lesser-known, but they can also play a crucial role in an estate plan. Living trusts...
Emotions may run high when your will is being read out among your beneficiaries, as some may feel shortchanged. This can lead to a will contest that may drag on for a while and delay its execution. Given that a will reflects your last wishes, you want to avoid a...
Do you want to have a say on what will happen to your estate when you pass on? Do you want to prevent the government from determining the fate of your assets? If your answer to these questions is yes, then you need to have an estate plan. An estate plan is a document...
Did you know that estate plans, and the legal documents included in them, could help you protect your assets from bankruptcy during your lifetime? If you ever end up thinking about bankruptcy, you may note that there is a potential to have to liquidate your assets or...
It isn’t at all uncommon for someone to name one or more of their beneficiaries as the executor or co-executors of their estate. This is particularly true when parents name an adult child as both their heir and the executor of their will. There are pros and cons to...
If you have worked hard all your life, you may have acquired significant assets and properties you intend to leave to your heirs. But you are unsure if these heirs are well-equipped to be a good steward of all you worked so hard to obtain. Many otherwise upstanding...
