Today, much of our lives is digital, and many things we hold dear are not physical. However, what happens to our digital assets when we die? That’s where digital estate planning comes in.
A living trust is a legal document which places ownership and control of property into a trust, managed by a trustee for your benefit. Living trusts are often used as part of estate planning and can be helpful in case of incapacity.
Equally sharing the wealth among the children isn’t always fair, such as when one sibling is the primary caretaker, or another is already wealthy.
An ‘I Love You Will’ works great as long as everything goes as planned. However, there are three reasons that kind of will may not love you back.
There are times when it makes sense to leave more to one child than another.
It is commonly understood that upon death, our property will pass to someone else. However, the details of exactly how property passes often seem a bit more mysterious.
When you die, a section of law known as estate and probate law governs how your assets are distributed.
When someone passes away, whether unexpectedly or not, it can raise questions about who will inherit what. Specifically, you might be wondering whether in-laws have a right to any of the assets of the deceased person.
Estate planning is nearly always worthwhile but can be extra important when you have stepchildren.
Like most assets, you can inherit an individual retirement account (IRA) after the owner’s death. For spouses, inheriting an IRA is a relatively straightforward process.
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