If you have worked hard your entire life and acquired significant wealth, you are certainly concerned about what will happen to your estate and legacy when you die. If you have a will at the time of your demise, your estate will be distributed per the stipulations in...
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3 common questions and answers about probate
When establishing an estate plan, there’s one subject important for all testators and grantors to know about -- and that's probate. Probate is the process of certifying someone's will as valid and distributing property or funds after someone passes away in the proper...
Why trusts are such useful tools for blended families
Individuals in many different personal circumstances may need to add a trust to their estate plans. Those who have family members with special needs or a history of substance abuse may recognize that they need to take special steps to leave resources for those people....
What is a POA agent allowed (and not allowed) to do?
Do you or a loved one need a POA (power of attorney)? Or is someone giving you their POA? A POA is a document that grants an individual authority over another person’s financial or medical matters. It can take effect immediately or when someone becomes incapacitated....
Is it time to update your will?
Executing a will is one of the most important decisions you can ever make. With a valid and enforceable will in place, you can rest easy knowing that your hard-earned assets will pass down to the people and causes you care about when you die. However, a will is not a...
Is it possible to avoid probate?
The court process of administering your estate before handing everything over to your beneficiaries is known as probate. It can be a time-consuming and expensive affair that may attract unwanted attention to your loved ones. These are just a few reasons you may want...
What is an irrevocable trust?
Getting your estate plan together means taking the time to think about the best ways to use your assets to help your loved ones when you’re gone. You must ensure that you establish who will get what so your wishes can be followed. While some people think they can do...
3 reasons family members might benefit from a spendthrift trust
Trusts are legal entities created to preserve, invest and distribute resources. There are different kinds of trusts that people can create to leave a specific legacy and protect their loved ones’ interests. A spendthrift trust is one of the more common kinds of trusts...
Why you should avoid DIY wills
The pace of life is increasingly becoming faster. Now, it is possible to carry out multi-million dollar deals on your phone at the click of a button. There is an app that serves almost every purpose, including estate planning. DIY will templates are very common and...
Why make a will after you have a child?
When people think about estate planning, they often imagine elderly parents leaving assets to their adult children. The parents are in their 80s, the children are in their 50s and wealth is transferred from one generation to the next. Certainly, this happens all the...