How Do I Address an Estranged Child in My Estate Planning?
Perhaps one of the most difficult, and increasingly common, estate planning questions involves the inclusion or disinheritance of an estranged child.
What are Responsibilities of Trustees and Executors?
A trustee is a fiduciary which, essentially, is a person that owes a legal, ethical and, perhaps, moral obligation to act in the interest of another.
Does Your Estate Have to Go Through Probate?
Every estate that holds titled property must be probated if title to that property is not transferred using some other wealth transfer method.
Does a Married Couple without Children Need a Will?
In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children.
What Exactly Is a Trust?
A trust is a legal vehicle that allows a third party, a trustee, to hold and direct assets in a trust fund on behalf of a beneficiary. A trust greatly expands your options when it comes to managing your assets, whether you’re trying to shield your wealth from taxes or pass it on to your children.
Checklist for Estate Plan’s Success
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Do You Pay Income Tax when You Sell Inherited Property?
My great-grandfather was a farmer and had about 23 acres when he died. My grandfather passed away before my great-grandfather. The land was put in a trust for my mother and uncles. My mother passed away two years ago.
How Important Is a Power of Attorney?
With a Power of Attorney, you designate which individuals are in control of your assets and who can take care of your affairs, if you are unable to do so.
When Should an Estate Plan Be Reviewed?
The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.
What are Top ‘To-Dos’ in Estate Planning?
The biggest misconception people have about estate planning is that “they are not that old and can do it later,” say almost half (49%) of advisors in a recent Key Private Bank Advisor Poll on estate planning. Yet, the majority (73%) of advisors say the ideal age to start putting an estate plan in place is before 40—earlier than many people think.