Estate planning ensures that your assets and belongings get distributed according to your wishes after your passing. However, the process is not without its pitfalls. Scammers exploit this critical time, making it necessary to understand and recognize common scams....
If you have ever had to make final arrangements for a loved one, you probably remember just how expensive funerals can be. Indeed, according to reporting from CNBC, the median cost of a funeral in the U.S. in 2021 was nearly $8,000. You can spend tens of thousands of...
When it comes to estate planning, one of the most important decisions you'll make is who will serve as your executor. Your executor is responsible for many different, key tasks after you pass away. However, what happens if you change your mind and want to choose a new...
Burial and cremation are only two ways to put people to rest when they die. The reasons one may prefer one over the other — or another way entirely — depend on a number of factors. These include religious preference, military service and overall costs. However, if...
One of the hardest decisions that parents have to make during the estate planning process is appointing legal guardians for their minor children. The guardians you choose will take responsibility for raising your children if both you and your spouse pass away. There...
Many people living in Georgia hold off on drafting wills and other estate planning documents until they experience a significant life event, such as a marriage or the birth of a child. However, creating an estate plan offers benefits, regardless of whether you plan to...
Creating a last will and testament is one of the more effective ways to have some control over what happens to your assets after your death. If you have children or other dependents, a will also can designate a person to act as their guardian. Still, for a variety of...
While handling estate plans, the discussion eventually turns toward drafting a power of attorney. Some people may not see the need for this step or think it is only for those who are exceptionally wealthy. The following details explain what a power of attorney is and...
Most people will not have to pay federal estate taxes because the threshold is so high. However, if you have significant assets, you should check the value of your estate so that you can plan if your estate will have to pay taxes. The IRS handles federal estate taxes....
Trusts are common estate planning tools used by people of all backgrounds with various asset profiles. Anyone can benefit from the extra control that a trust grants over one's own estate, even those who already have a will in place. Creating a trust to complement your...
