A trust should reflect your wishes for how your property will pass to your beneficiaries. But a mistake in drafting or expressing your wishes can cause the final document to say something you never intended. In some situations, a court can reform the trust to correct...
A family business may rank among a person's most valuable assets. What happens to the company after the owner dies? Without a clear plan, family members may face disputes over ownership, management and inheritance. Identify the business ownership An estate plan should...
You expected your inheritance within weeks of a loved one's passing, yet months later the trustee still has not sent your share. It raises a fair question: is a trustee allowed to wait this long? Often the answer is yes, though not always. Knowing when a delay is...
A power of attorney can be set up to take effect exactly when you need it. You can specify the triggering event that gives legal power to the agent that you have selected. Often, this is done with a springing power of attorney. For example, perhaps you want to make...
If you own digital assets, it certainly may be possible to include them in your estate plan. However, it often depends on the type of asset you hold. For example, perhaps you have purchased cryptocurrency, which is a type of digital currency. It is held in an online...
You may spend years building wealth through real estate, a family business or long-term investments. As your estate grows, it is easy to assume those assets will provide everything your loved ones will need after your death. However, a valuable estate will not always...
Advance health care directives are important supplementary documents for modern estate plans. They allow people to provide instructions regarding their medical care if they become incapacitated. One of the important issues that people may address in an advance health...
Most adults have the legal authority to create a will and other estate planning documents. They can provide instructions about the distribution of their property after their death or empower people they trust to assist them in an emergency scenario. However, not every...
Expensive assets can lead to estate disputes. For instance, maybe a parent has a net worth in the millions, but they leave 90% of their financial assets to one of their adult children and just 10% to the other. The sibling who received less may believe that they...
A revocable living trust is only as strong as the assets you place in it. An unfunded or partially funded trust can cause unnecessary stress and still require families to go through probate. Careful funding and regular updates help your trust function properly when it...
