Estate Planning
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...
Why adults of all ages need to draft an estate plan
Wealthy American adults generally do not shy away from estate planning because they want to make sure that control of their assets rests with them – not the government – after they pass away. Yet, many younger and less affluent adults postpone estate planning over...
3 things about irrevocable trusts you should remember
One of the most important things you can do as an adult is to ensure you have your affairs in order in case something happens to you. Getting your estate plan in order is vital. A comprehensive estate plan includes more than just a will. Some individuals choose to...
Conservatorship vs. power of attorney: What to Know
Creating a plan to deal with your incapacitation can be a challenging part of estate planning. However, since your family is important, you must ensure they will be cared for if something happens. If you are trying to figure out how to handle this situation, consider...
2 things that can make your will ambiguous
Estate planning ensures your loved ones are taken care of when you become incapacitated or die. Its primary elements protect your assets and distribute them according to your wishes. And a will is one of the essentials. Your will should be clear to make work more...
What is a pour-over will?
A pour-over will is an estate planning tool that can ensure that all your assets are accounted for. It avoids the problems that can occur when people are left wondering what to do with assets that you forgot to include in your estate plan. When you first create your...
What can you do with your estate if you have no children?
In the modern world, families can look a lot different than they did when you were growing up. They can have the typical mother, father and kids, or they can comprise two adults who never plan to have children. Like many others, you may think you do not need estate...
What to consider when appointing a power of attorney
One consideration people sometimes overlook when estate planning is appointing a power of attorney. It’s something that many think of as only needing to be done when you become unwell, but in fact, the earlier you arrange it, the better. You can choose someone to have...
Who pays the taxes on your estate?
As you do your estate planning, you realize that you probably cannot plan everything out so that your heirs don’t have to take care of any details. If you were to pass away unexpectedly, for instance, someone would still have to pay the property taxes and your income...
Don’t delay your estate planning
When you ask people why they haven’t created an estate plan, one of the main reasons they’ll give you is simply that they are procrastinating. They won’t say it this way, necessarily. But they’ll talk about how it’s something that they mean to do in the future or how...