If you have children under the age of 18 and you have not named a guardian for them in the event both you and your partner die, it is time to update your estate plan. A guardian is the person who will have custody and manage each child's property. Choosing this person...
Most people assume that once they create their estate plan, they can set it and forget it. Not only is this not the case but also, “forgetting about” your estate plan can have adverse and costly consequences. New laws, life events, the accumulation or loss of wealth...
While having an estate plan is the first step in the right direction when planning how you want to distribute your assets after you die, you cannot leave the estate plan once you finish it. According to the U.S. News, you must review your estate plans regularly. Once...
If you lost a loved one, you are probably wondering what the next steps are. Probate is the legal process that take place to ultimately transfer assets and close the estate. Probate consists of many steps and is not a short process in most situations. The executor...
If you want to have a say in what medical treatments you receive in the event you are in an incapacitated state, you should prepare an advance directive. This legal document outlines procedures and treatments you want or want to avoid. You can also name an agent as...
Deciding what to do about your estate can feel stressful, especially if you feel intimidated by the whole process. There can be lots of different things to think about, and you might not be sure whether or not it is right for you. The upside is that you do not need to...
Probate court is often a tedious and expensive process that can take a long time to complete. Thankfully, you can avoid probate court with proper estate planning. Transfer-on-death deeds and registration A transfer-on-death form names a specific beneficiary who...
There are several estate planning tools to consider and you can tailor their use to your particular circumstances. You want to be as thorough as possible when you put your estate plan together. Here are four common mistakes for you to avoid. 1. Lacking liquidity If...
If you have a child who has Down Syndrome, you may have some valid concerns about his or her ability to work in the future. Not being able to find gainful employment, of course, may make it virtually impossible for the young one in your family to pay living expenses...
Too often, people fall into the trap of crafting a comprehensive estate plan and then leaving it locked away in their safe deposit boxes for years and decades to come. In fact, individuals should review and revise this set of documents at regular intervals to ensure...
