A trust is an estate planning tool that allows you to designate a third party known as a trustee to hold and oversee certain assets on behalf of your beneficiary. Done right, a trust can greatly expand your options when managing your assets. From avoiding probate to...
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Estate Planning
High-asset estate planning: Pass on more to your heirs
When you have an estate of significant value, it is important to plan to protect your wealth. Planning in advance can help you avoid crisis planning so that there is always a plan in place regardless of what happens in your future. High-asset estate planning is...
Who should you choose as the agent for your power of attorney?
When beginning the process of estate planning, it is important to consider who you would like to act as your legal and financial voice should you become incapacitated. Whoever you choose receives the legal ability to speak on your behalf, so taking time to carefully...
Protecting the inheritance of your children after a divorce
In a way, divorce makes estate planning a little easier for parents. One of the hardest things about considering your own death is the idea that you and your spouse will die together and leave your children completely alone. The likelihood of that occurring after your...
What is the difference between a living will and a living trust?
Estate planning terms can be confusing, especially when they sound similar to one another. From the names, you may think that a living will and a living trust relate to one another. Actually, they are two different things. A living will and a living trust can each be...
What should you focus on when reviewing your estate plan?
Your estate plan often contains many different components. Altogether, it can seem difficult to review the entire thing. This will certainly get old quickly, especially if you plan on sticking to expert advice and reviewing your plan every 3 years. So what can you do...
Is it time to contest your loved one’s will?
You want your loved one’s legacy to reflect their wishes -- and, if it doesn't, you may be left with questions. What prompted the changes to their estate plan? Is it still possible to protect their legacy? In some cases, contesting their will might be the best way to...
3 elements of undue influence in estate planning
Estate planning documents, such as wills, should reflect their drafter’s genuine intentions. That is not always the case, however. Sometimes, an unscrupulous person takes advantage of the estate planner to receive some benefit from the estate. Undue influence, one of...
When should you start thinking about your estate plan?
Some people believe that estate planning is only for the elderly. However, estate planning is a good idea for anyone, at almost any age. Estate planning provides many benefits to people in all stages of life, from young parents just starting out, to middle-aged...
A health care directive enables control over medical treatments
Members of the baby boomer generation may have unique requirements when creating an estate plan. Issues of medical preferences often require special attention when the preferred choices do not reflect traditional or standard treatments. An individual may wish for...