You’ve come to the conclusion that there’s no better time than now to create your first estate plan. Congratulations! Although it’s a challenging process, as you’ll come face to face with many questions and concerns, it’s extremely rewarding in the long run. The first thing you need to do is prepare for the estate planning process. This differs from one person to the next, but there are some basic steps anyone in this position can take. Here are three of them: Write down your short … [Read more...] about How to Begin the Estate Planning Process
Don’t Take These Risks When Creating an Estate Plan
Creating an estate plan will pull you in many different directions. On one front, you want to do what’s best for you and your loved ones, no matter what it takes. Conversely, you’re not excited about spending too much time on the process, as it’s not your idea of a good time. It’s natural to look for ways to cut corners. However, if you take an unnecessary risk, it could cost you and your loved ones time and money in the long run. Not to mention the stress that it can add to your … [Read more...] about Don’t Take These Risks When Creating an Estate Plan
Assignment and Nominee
What’s an “Assignment and Nominee” agreement and what does it do? Some attorneys use such an agreement as a belt and suspenders approach to funding. Read on to learn more. … [Read more...] about Assignment and Nominee
Leaving Assets Can Be Tricky
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. Read on to learn more. … [Read more...] about Leaving Assets Can Be Tricky
What to Look for in a Guardian for Your Children
If you have a child or children, it’s critical to determine who would care for them in the event that you and your spouse pass on before they reach the legal age of 18. Leaving it to the court to decide is a risk that you don’t want to take; you never know where your children could end up. Naming a guardian sounds simple enough until you realize that you’re unsure of who makes the most sense. Add this to the fact that some people may not be interested, and you have a big decision that can … [Read more...] about What to Look for in a Guardian for Your Children
Do These Things to Prevent Estate Planning Problems
Regardless of your age, financial circumstances, and health, you need an estate plan. Not only will this protect you now, but it’ll do the same to your assets and loved ones upon your death. The trouble with estate planning is that most people don’t know what they’re doing. It sounds simple enough, but as they begin to answer a variety of key questions they find that nothing could be further from the truth. You can take a variety of steps in an attempt to prevent estate planning problems. … [Read more...] about Do These Things to Prevent Estate Planning Problems
What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
When you’re deciding to whom to leave assets, most people choose their children or other descendants. However, you also need to decide on the “contingent remainder” beneficiary. In other words, who should get your assets if all your other beneficiaries are gone. Read on to learn more about this often-confusing concept. … [Read more...] about What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
Academy’s Fall Summit Virtually Perfect
You want your estate planning to be handled by an attorney who stays current on the law. The American Academy of Estate Planning Attorneys is holding its semi-annual conference providing education and learning for its Members. Read on to learn more. … [Read more...] about Academy’s Fall Summit Virtually Perfect
Fair Isn’t Always Equal and Vice Versa
When you’re deciding how your assets should be divided at death, sometimes dividing them equally is the appropriate choice. But, sometimes it’s not. Fair isn’t always equal or vice versa. Read on to learn more, including how to avoid a challenge if you choose an unequal division among your children. … [Read more...] about Fair Isn’t Always Equal and Vice Versa
Staying Current is Especially Important in the Pandemic
The President’s bout with COVID-19 demonstrates the importance of keeping planning current. A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
