If you already have an estate plan in place, you probably know that it requires occasional updates based on life events. This includes things like marriage, new children and grandchildren, the death of beneficiaries and divorce. If you’re considering or preparing for...
Trusts are a critical part of an estate planning strategy, providing various benefits that suit different needs. Revocable and irrevocable trusts, the two main types, each offer distinct advantages and limitations. Revocable trusts, also known as living trusts,...
One of the most common reasons that people create a comprehensive estate plan is that they want to keep their assets out of probate court. The more time in court that an estate requires, the more the estate administration process will cost. Additionally, family...
Probate is the legal process of validating a deceased person's will, administering their estate and distributing assets to beneficiaries per the instructions left behind. While it sounds pretty straightforward, this court-controlled process is not always smooth...
Estate planning is beneficial for the average individual, but most people don't create a will, trust or other estate documents for their own needs. Instead, it will be concern for their spouse, children or other close loved ones that motivates them to put together a...
Choosing the right executor can make all the difference if you have a will that contains your final wishes. This is the person responsible for managing your estate and ensuring that your will is implemented to the letter. While many may assume that choosing an...
Many people believe their estate will have to go through probate when they die. But that's not necessarily true. You have several options if you want to keep your assets out of probate altogether. What is probate? Probate is the court-supervised process of validating...
An estate plan is a way for someone to protect their closest loved ones when they have no power to take any other actions. The guardian that someone names in their estate plan is one of the most important protections that the parent or guardian of a minor child can...
Many people shy away from the creation of powers of attorney, largely because they dislike the idea of giving someone else authority over their lives. A medical power of attorney effectively authorizes someone else to make choices about what treatment you receive if...
Reviewing and potentially updating your estate plan is crucial whenever you have a significant life event. Marriage and divorce are two such life events, and both nearly always warrant some significant revisions. If you’re divorced and preparing to remarry, it’s...
