In general, your assets go to the people you probably want to inherit them. However, if you want to leave anything to your parents, siblings, nieces or nephews, friends, in-laws — or if you want to eliminate someone from your plan for any reason — you need to create a will.
A trustee is a person or entity who’s appointed to manage assets held in trust on behalf of a third party. There are few formal restrictions on who can serve as a trustee.
For those who want to avoid the court-controlled process that takes place after a person’s death (known as ‘probate’)—using a Revocable Living Trust is typically the best way to do so.
As life is unpredictable, it is better to start planning sooner rather than later. In fact, upon attaining the legal age of majority in your state of residence (typically at age 18), you should begin considering some form of an estate plan.
When it comes to pets and estates, there are two main rules to understand.
A traditional will could be the simplest but not necessarily the best way to pass on your legacy.
Cryptocurrency has changed the nature of what can be considered an asset, and that’s affected estate planning, too, the process of allocating your assets to your heirs on your death.
Estate planning not only makes things easier for your loved ones if you become incapacitated or when you’re gone, but it also does these three important things.
If you have life insurance, you know you were required to pick a single or multiple beneficiaries when you purchased your policy. When you die, the beneficiaries receive the payout from the policy.
A document usually included in an estate planning package is a financial power of attorney. What is a financial power of attorney?
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