What are the Basics of a Successful Estate Plan?
An estate plan tells your heirs and the courts how to divide up your assets, but it also helps protect your loved ones from unnecessary hassle and expense–as well as potentially months, even years, tied up in the court system settling your estate.
What You Need to Know about Probate
A will is a legal document that spells out the distribution of your assets and how your children will be cared for at your death. Probate is a process used to prove a decedent’s will is valid and to supervise the handling of their estate.
How Do I Stop Heirs from Foolishly Wasting Inheritance?
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
Do I Need an Estate Plan If I’m Not Married?
If you don’t have a spouse or children, you might think you don’t need to do much estate planning. However, if you have any assets, any familial connections, any interest in supporting charitable groups – not to mention a desire to control your own future – you do need to establish an estate plan.
How Is Insurance Used in Estate Planning?
There may be potential benefits to life insurance beyond its traditional uses, especially when it comes to taxes, estate planning and long-term care.
Do You Need Power of Attorney If You Have a Joint Account?
As you know, a power of attorney (POA) allows another person, the Attorney-in-Fact (AIF), to conduct business on behalf of the principal. The POA authorizes the AIF to sign for and on behalf of the principal.
How to Keep the Vacation Home in the Family
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
What Is the Main Purpose of a Trust?
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
If My Estate Is the Beneficiary of My IRA, How Is It Taxed?
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
Is a Handwritten Will a Smart Idea?
A holographic will is a will handwritten by the testator (the maker of a will). Holographic wills are recognized in about half of the states in the United States.