The legacy that you have to leave to your family members when you die depends on numerous different factors. How much you earned and saved during your life will play a major role. So too will your advance planning both for what you leave behind and your final years of...
Maybe your father always dreamed of you taking over the family business when he retired. You really had no interest in doing that, but you put off having that conversation. Then he unexpectedly died, and you find out that he left the business to you. This is just one...
Whether you call it a cabin, a lake house or your vacation home, your second residence is likely valuable. Even if it isn't as big as and didn't cost as much as your primary residence, it likely has a lot of emotional value. You and your entire family may have spent...
Estate planning for farmers is uniquely complex – particularly when you have children and grandchildren whom you hope will continue the business you and possibly your parents and grandparents built. These days, however, there’s no guarantee that all of your kids will...
A trust is an estate planning instrument that allows you to nominate a third party, legally known as a trustee, to hold assets on behalf of the designated beneficiaries. This estate planning tool specifies exactly when and how assets are to be passed on to the...
Choosing the right trustee can be as important as choosing to create a trust in the first place. Without the right person administering the trust, all of your careful planning could go to waste. Some people are quick to name a specific individual of the person they...
Once you have created a will, it is natural and easy to forget about it. However, this would be a very serious mistake. As life events occur, you may need to review and update your will so it can reflect your current circumstances. If all you need is a small change...
You’ve probably come across ads for do-it-yourself wills and estate plans on the internet. While these ads point you to documents and information that might apply to someone in your circumstances, the reality is that these documents may not be the right ones for your...
Your estate plan gives you control over what happens to your property when you die and also what care and treatment you receive when you are in a medically vulnerable situation due to incapacitation. Each of these considerations requires careful planning to adequately...
When your loved one listed you as the beneficiary of their home in their will, they thought they were being generous – and so did you. However, they intended to have the mortgage paid off before they passed away. Sadly, that didn’t happen. What do you do? You have a...
