Category: Estate Planning
Wills and trust often go hand-in-hand, when it comes to estate planning. Should you decide to use an online service instead of going to an estate planning attorney, you may find yourself with a trust but then learn you also need a will, according to the Lake County News in “The difference between a trust […]
As size of estates increase, so do the number of challenges. However, success isn’t easy to come by. As the number of wealthy estates increase, both the U.S. and Canada find themselves in challenges brought about by people who believe they didn’t get their fair share, according to The Globe and Mail in “Left out of […]
A challenge can be created when one child is responsible, and others aren’t. Varying degrees of financial responsibility by children can be a challenge to creating an estate plan, according to Market Watch in “My son is responsible, my daughter is in debt — how do I split my estate?“. A common way to meet […]
You can’t necessarily prevent being incapacitated. However, you can make plans, just in case it should occur. There are no age requirements for disabling accidents or illnesses, so it would be wise for everyone to plan for what would happen if they were to be incapacitated. It is not difficult, according to TC Palm in “Be […]
Create a second trust and the first is revoked? It doesn’t work that way. A common question was presented to a column about trusts, according to the NWI Times in “Can an individual establish more than one trust?“. The question was if a second trust wipes out the first trust. The confusion over trusts is […]
In trying to avoid probate, people can find themselves getting the opposite results. Many people do not realize that probate courts handle more things than just wills and can’t always be avoided, according to WLTX19 in “Man spends thousands in probate costs to help wife with dementia.” Consider the case of one elderly couple in […]
Estate planning is one of those things that is better done now, rather than waiting until later. That can actually be too late. The question comes up about finding the right time to set up an estate plan as life marches forward. However, the one certainty is that you will always be better off with […]
Estate planning often involves setting aside educational funds for children and grandchildren. It is common for people to consider helping out their children and grandchildren for educational purposes, when setting up estate planning. There are a few good ways that the educational expenses can be covered, according to The Legal Intelligencer in “How to Make […]
Can you trust them? If you wonder, then you probably already have the answer. Multiple relationships and fewer bonds can often lead to some challenges, when it comes to settling an estate, according to the Financial Times recently in an advice column “Should I trust my wife to divide my assets fairly?“. The column discussed […]
Protecting assets for your minor heirs can be a challenge. If you plan on leaving assets to minors, you can leave it to the courts to decide on the best person to handle the funds or you can do it yourself through an estate plan, according to the Times Herald-Record in “Proper legal planning for […]
