What Do I Need in My Estate Plan in Addition to a Will?
This time of year, families gather to celebrate the season, offering an opportunity to air your plans for the inevitable.
An Estate Plan Is Necessary for the Unthinkable
Have you resolved to get your estate planning done at last or perhaps updated? Good for you. Here’s what you’ll need to do, and, just as importantly, what you don’t need to do.
Do You Think Everything Is All Set with Your Estate Plan?
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?
Common Will Mistakes to Avoid
The most obvious mistake is not to have a will at all. The news is replete with examples of celebrities who have died without a will, including: Prince, Michael Jackson, James Brown and even Abraham Lincoln.
Do You Want to Decide or Do You Want the State to Decide?
Estate planning attorneys will agree, it’s better to die with a properly drafted will than to die without one. If you don’t have one, consider getting one.
Does My Mom Have to Pay My Dad’s Credit Card Debt after He Dies?
My father recently passed away and we discovered he had a large credit card debt on a card in his name. My mother wasn’t aware of it. All assets are in both of their names. Is my mother liable for the credit card debt?
What are the Main Estate Planning Blunders to Avoid?
Maintaining a valid and current estate plan is vitally necessary in order to ensure the efficient and orderly dispersion of assets after a person dies. However, even a small mistake can create huge problems during the settlement process, and in many cases, these errors are impossible for anyone to correct.
How Bad Will Your Estate’s Taxes Be?
There were only approximately 1,900 taxable estates in the U.S. in 2018, which is less than 0.1 percent of people who died that year.
Why Trusts Should Be Part of Your Estate Plan
Trusts have long been a tool for the ultra-wealthy to preserve wealth and pass it down through the generations. However, even those of more modest means may benefit from this powerful estate planning tool.
Be Aware of Probate
Whether you recently experienced the loss of a loved one or are learning how to best prepare and plan your own estate, you’ve likely come across the term and may be wondering, “What is probate?” It’s important to understand what probate is and how the process works.