When there is inheritance, there are also often those who want to fight the heirs for a piece of it. For instance, the death of Tom Carvel (the inventor of soft-serve ice cream) triggered a years-long major fight over his will. You may not want your inheritors to have...
Funeral pre needs in estate planning
Estate planning covers a lot of things, from wills and guardianships to trusts that preserve assets for future generations. All of it is in preparation for the inevitable, in hopes that any and all financial processes after death go smoothly. It might be easy to...
How should you tackle estate plan reviews?
When examining your estate plan reviews, it is important to know how you want to organize and tackle the process. After all, most estate plans are complex pieces of legal work that take months or even years to build. You do not want to spend copious amounts of time...
What is estate planning and what are its benefits?
In a nutshell, estate planning is the process by which you anticipate your future needs and those of your family and then, working in conjunction with your estate planning attorney, set about ensuring that these needs will be met, both during your lifetime and after...
Have you completed an advance directive for health care?
One of the most difficult yet important parts of estate planning may be preparing for a worst-case scenario in which you can no longer make medical choices on your own. Whether due to a sudden accident, progressive disease or the slow onset of age-related issues,...
How does a power of attorney benefit seniors?
As you age, you have no guarantees on what the future holds. You cannot know whether or not you will always be able to make decisions for yourself. U.S. News explains how a power of attorney is a solution to the unpredictable future. The following questions can help...
How to transfer assets to the next generation
While the thought of not being here might be unpleasant, there is more than one reason to plan the transfer of your assets to the next generation. In doing so, not only will you be able to protect your family, but you will also be able to preserve your legacy. To...
The human element of estate planning
Estate planning is a complex subject. It involves laws that could change — and therefore change your tax benefits, creditor shielding protections and so on. However, it also involves a human element. There will be people involved: your heirs, your executor and your...
Should I put my child on the deed to my home?
One of the aims of estate planning is to ensure that your heirs do not need to spend an excessive amount of time in probate court. It is no secret that probate can particularly take years, and during this time your heirs will not have access to their inheritance....
Special needs trustees perform 4 essential duties
If you have a loved one who has a disability, you may want to use your estate plan to establish a special needs trust. This type of trust gives your relative access to funds for supplemental expenses without endangering his or her eligibility for means-tested...
