The Importance of Estate Planning for Your Family's Future Estate planning isn't something that people often like to think about– but it's a necessary task that protects your assets and ensures your loved ones are taken care of in your absence. A well-crafted estate plan can give you the peace of mind that comes from knowing your family's future is secure. In this blog post, we will explore the ...
When it comes to the differences between a will and a trust, a few points are key: What they are, when they take effect, and what they offer when implemented in an estate plan. Many people look at wills and trusts from an “either/or” perspective – that is, you either have a will or a trust. The reasons for this notion is understandable: Both wills and trusts can help you pass on property to your ...
According to a Gallup poll, less than half of American adults have a will “that describes how they would like their money and estate to be handled after their death.” Their research also shows that: Adults with a higher income are more likely to report having drafted a will. Adults 65 years of age or older are the highest age subgroup that reports having a will (76% reporting), and the percentage ...
What Is Probate? Probate is the process of handling an estate after death, but it involves much more than that. Keep reading for more information. Probate Definition Probate is the legal process of reviewing a will and estate to verify its authenticity. The term can also apply to the administration of a deceased person's will. Once the estate owner dies, the court will appoint an executor who may ...
Do you have a loved one in your life who is disabled? Do you want to leave money or property for them after you die? If so, you will need to include a special needs trust in your estate plan. Without a special needs trust, your loved one might be ineligible for Supplemental Security Income (SSI) and Medicaid benefits. Let’s say you want to leave your loved one $10,000 in cash upon your death. ...
Although it is never pleasant to think about the matters your loved ones will have to handle when you die, it is important to take the time to review your estate and make sure it is prepared for probate. The probate court will decide how all of your personal property should be divided and distributed. Here are three reasons why you should hire an experienced probate attorney to guide you through ...
If you are a parent, you know how important it is to ensure your minor children are taken care of if something happens to you. Although you might have the best intentions, poor estate planning on your end can result in your loved ones losing out on the assets you left behind. If you have minor children, you should consider using the following estate planning tools : Revocable Living Trust: A major ...
Of all the villains to appear in Batman movies over the years, it is often Heath Ledger’s version of the Joker that audiences rave about. While Jack Nicholson is another top pick for memorable performance in a Batman film, Ledger’s exceptional acting and dark portrayal of the character earned him the Academy Award for Best Supporting Actor. Sadly, Heath Ledger died of an accidental drug overdose ...
When you’re dealing with a legal matter, whether it’s the difficulty of a family law issue, an elder law or estate planning matter, or even a criminal law case, having an attorney you can openly and honestly discuss your issue with is vital. However, some of the information you may need to discuss with them is sensitive, embarrassing, or even potentially incriminating. How do you know that your ...
When it comes to estate planning, avoiding the probate process is arguably the most important goal you have. Probate takes a long time, can cost thousands of dollars, and lead to a lot of stress for your loved ones who you wish to take care of. To do this, you have a number of estate planning tools that you can use to set up your estate to pass on to your loved ones how you would like, and do so ...
A comprehensive estate plan is comprised of several important legal documents that work together to protect your interests and end-of-life choices. Each document serves a specific purpose, and is intended to reflect your current personal, medical, and financial circumstances. For this reason, it’s important to update your estate plan every few years or after a significant life event. After all, a ...