Don’t Overlook Key Parts of Estate Plan
During the past four months, more than 141,000 Americans have died of COVID-19. Anecdotal evidence suggests that the pandemic has prompted some people to get serious about creating or updating their estate plans, according to Christine Benz, Morningstar’s director of personal finance.
Estate Planning Is a Gift and a Legacy for Loved Ones
Talking about death makes most of us uncomfortable, so we don’t plan for it. That’s a big mistake, because if you don’t have an end-of-life plan, your state’s laws decide who gets everything you own.
Why Everyone Needs an Estate Plan
If you think of estate planning as something only ultra-wealthy people need to do, you’re not alone. That’s a common misconception.
Estate Plan—or Lack of One—Will Have an Impact on How You are Remembered
Various studies show that most adults have not prepared a legal will. However, the point I’m really trying to make is that everyone has a will in a way—just not one that they have executed.
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.
How Can Beneficiary Designations Wreck My Estate Plan?
Beneficiary designations are a crucial part of estate planning, yet they are often overlooked. Once you have signed your estate planning documents, you need to make sure that your beneficiary designations are consistent with the rest of your estate plan.
Update Your Estate Plan to Protect Spouse and Children
Imagine you get married and within a year or two, your new spouse passes away. Now, imagine that your grief is compounded with financial stress.
No Will? Don’t Count on a Happy Ending for Your Family
At the time, he had gone so far as to have his will drawn up, but he hadn’t finalized it. In addition, he hadn’t authorized anyone to have power of attorney, in case of illness.
Hey Dad, Can I Get an Advance on My Inheritance?
What is equal treatment at time of death can be disputed among the children, when some children have received substantially more in lifetime gifts than the others.
Common Myths about Your Estate When You Die
Regardless of whether the law makes sense to us, we are all required to abide by it.