Once you decide to create a trust, you'll be faced with a variety of questions that require your attention. For example, you need to choose a trustee. And when doing so, it's imperative to name the right person.Answer these questions as you compare trustees on your...
Year: 2020
Can you leave assets to your minor children in your estate plan?
As a parent, you want the best for your children's future. You also know that you would do anything for them and provide them with anything they needed. As a result, when you consider your estate plan and desires for property distribution, you undoubtedly want to...
When should you review your estate plan?
As challenging as it may be, it's satisfying to create an estate plan that you can trust. Not only does it ease your mind and reduce tension, but it's sure to do the same for your loved ones.After creating an estate plan, you shouldn't put it away and hope that...
Questions to ask your adult parents about estate planning
As your parents age, it's critical that you help them with a variety of tasks related to their finances and health. In many cases, this leads you to discuss topics that fit under the estate planning umbrella.There are a variety of important questions to ask your...
Important things to consider when choosing a beneficiary
You're faced with a variety of challenging and important decisions when creating an estate plan. Among them is deciding who to name as your beneficiary.Even if it sounds simple and straightforward, the more you think about it the more you'll realize that you have...
How to discuss estate planning with your adult children
You're perfectly within your rights to keep all your estate planning matters to yourself. You don't have to share your estate plan with anyone, even those who are closest to you. However, there may come a point when you realize the benefits of discussing estate...
The role of an executor of a will
It doesn't matter if you're creating a will and naming an executor or someone has asked you to serve in this capacity, it's critical to understand everything the role entails.In general terms, the executor is responsible for managing a person's estate and distributing...
How long will probate last?
The death of a loved one often brings with it many questions. If your loved one left a well-prepared estate, you may have fewer questions than many. However, someone who died intestate, meaning without a will, may leave behind confusion and disagreements.If you are...
Anyone can make one of these common estate planning mistakes
You create an estate plan with the idea that it will be 100 percent perfect. And while this may be your intention, there is no guarantee of it happening. It's easy to make mistakes along the way, especially if you don't seek the appropriate assistance.These are some...
A living trust can address many estate planning concerns
The estate planning process is complicated, as you're sure to have a variety of concerns weighing you down. Fortunately, with so many tools at your disposal, you should be able to find one that suits your situation.For example, a living trust is designed to hold...