If you have been chosen as a trustee to one’s living trust, then understanding your responsibilities is crucial. The position of trustee places a considerable amount of work on your shoulders. It will be largely upon you to fulfill a trust’s purpose, over a indeterminate amount of time. In many ways, it’s an absolute honor
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The biggest estate planning mistake people make is to begin worrying estate planning concerns too late. It is never too soon to plan your finances, especially because people do not know the future. While financial planning is the key to maintaining wealth, not preparing in the matters of your own estate could mean that everything
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It’s impossible to predict how our lives will end – but careful planning can ensure that there’s always a plan in place, regardless of what is to come. While this might seem excessive, most Americans agree that planning for end-of-life care is important. However, few do what’s necessary to create a plan to begin with.
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While estate and living trust gifting is often put off because of the uncomfortable topic of death, it is one of the most significant gifts you will ever leave behind. Estate planning is about more than just protecting your own legacy – through a well-constructed and expertly crafted estate plan, you will have the
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A movement is growing to legalize electronic wills and trusts, which would allow people to complete the whole process online, without a lawyer or notary present. We live in a day and age where 81 percent of Americans possess a smartphone, and virtually everyone – 96 percent, as of 2016 – owns a cellphone
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It’s understandably difficult to discuss your end of life wishes with your loved ones. Most of us usually do not earnestly talk about our passing, unless maybe to informally declare our funeral wishes. While most Americans are aware that it’s important to be prepared for one’s passing, both financially and in terms of healthcare, most
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As you begin exploring your estate planning options on how to protect your assets, you’ll likely consider either revocable or irrevocable trusts. Trusts are an excellent tool for those who want to pass their estates and assets to beneficiaries without having to go through the costly, stressful, time-consuming probate process. Comparing the benefits and downsides
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Buying a property in probate can help you get a great deal that you wouldn’t find on the regular market. However, to take advantage of this opportunity, you must be prepared to wait, wait some more, and be prepared for the unexpected at any moment. There are several ways in which the process of buying
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Estate planning is far more complex than it might seem at a glance. While any attorney or lawyer can help you draft up and implement a simple will or help you get through the paperwork needed to assign a beneficiary to your 401(k), anything more complex might require the services of an estate planning professional.
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The ability to choose what your children receive when they pass away is an important one, especially in a country where a growing number of families choose not to reflect the traditional model of a family. To avoid the manner in which many probate codes handle the inheritance of children and offspring in nontraditional families,
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