Category: Trusts
Once you take the first couple of steps, it often becomes an easy process. You may only need a few documents to get your estate plan underway but people often delay because of the concern of complications, according to Forbes in “More Than Half of Americans Don’t Have These Essential Estate Documents, Do You?“. The […]
Information and education can go a long way in helping your children to use an inheritance wisely. Mistakes can be made by children who inherit money but lack the information on how to deal with it maturely and wisely, according to Nasdaq in “5 Things Your Kids Should Know Before They Inherit Your Money.” Much […]
The new tax law has enough big changes that you need to review your estate plan to make sure that you are taking advantage of the best options in the new environment. It is a good idea to review your estate plan with sufficient frequency to make sure it still does what you want in […]
It is best to consider all possibilities when making plans to protect your family. In addition to creating your will and an estate plan, you might consider that while you are at the attorney’s office you should also get plans for what might happen if you become incapacitated, according to the Times Herald-Record discusses in […]
State laws are similar, but differences can turn out to be important. If you relocate to another state, it is important to revisit your estate plan because there are a number of variables that have an impact on the plan, according to The Times Herald in “Moving can affect your financial planning.” Generally speaking, if […]
Knowing the basic concepts is enough to get you started on the right track. You don’t have to have an estate plan. However, if you don’t, the courts will decide where your assets go using statutes written by your state government. Getting started in planning can be a challenge if you don’t have the basic information […]
Estate planning instruments, including trusts, can be used to avoid the probate process. If some information you have seen or heard has led you to believe a will does not have to go through probate, you are just plain wrong, according to TC Palm in “Common misconceptions about wills and trusts.” Sometimes, misconceptions begin with […]
Because of the history of trusts being quite large in the U.S., people think they are restricted to those with large amounts of money. Trusts are not just beneficial to the super wealthy. They can be a good tool for everyone, according to the Times Herald-Record in “Trusts are no longer just for the wealthy.” There […]
Can you just show a will to the holder of the assets and take possession? No, you need to head to court. There are numerous misperceptions about how a will works. Attorneys often deal with people upset that it requires approval from a court before it is official, according to The Times Herald in “Wills […]
Parents may become disappointed with a child and plan to leave them out of their estate plan. However, they may want to think again, considering the potential problems that can follow. Sometimes the black sheep of the family can create sufficient problems that parents may consider cutting him or her from the estate plan. However, that […]
