Year: 2023
When is it time to update an estate plan?
Estate plans can be made to help instruct how a testator's assets should be distributed. This way there’s no confusion as to how an estate should be handled after the testator's passing. Furthermore, an estate plan can include several important details such as who...
Should married spouses share a will or have separate ones?
Many married couples do everything together, even creating an estate plan or a will. Since they share so much of their lives, it may seem logical to make a joint will. Sharing a final will might not seem like a problem, but it is generally better for everyone to have...
Reasons to use a medical power of attorney
When you’re doing your estate planning, remember that it needs to focus on more than just distributing assets to your heirs. This can be a good place to start, as you inventory those assets and write a will. But your plan needs to consider your health and medical...
Potential benefits of passing your business on to family members
You’ve run a successful company for several years now. Recently, you’ve been contemplating what will happen to it when you are no longer around. You’ve decided that you want to keep the business in the family, passing vital knowledge as well as your assets on to your...
What should you include in a partnership agreement?
Entering into a business partnership with like-minded parties can be a very exciting yet complicated process. This is especially true when a business has multiple facets or there is more than one partner. Complex realities underscore the importance of drafting and...
Can you leave your child nothing in your will?
If one of your children finds themself left out of your will, they are likely to be upset, even if you have done it because they do not need the money. That could lead to them trying to challenge it. So, if you intend to leave them out, you need to do it carefully to...
Does your will address your digital assets?
If you already have a will, you have done more to safeguard your interests and your legacy than the majority of American adults. If you regularly review your will and update it as necessary, your approach is head and shoulders above that of most others as well....
Is there anything you should not address in your final will?
A will gives testators (those who make a will) much control over the distribution of their assets even after they have departed the world. When written in clear and concise language, wills can eliminate ambiguity and prevent will contests. Some things are best left...
How to be specific when writing a will: 3 tips
You should be clear when writing your will. Anyone who reads it should understand every part. Ambiguity can create grounds for a will being contested. Thus, if you want your will to benefit your loved ones as you intended, you should be specific. Here are three tips...
3 factors to consider when choosing a guardian of your minor children
If you have minor children, it will help to plan for how they will be raised should you die or become incapacitated. You want your kids to be in the best hands. Thus, you should designate a reliable guardian when creating documents for your estate plan. The following...