You cannot name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies.
The amount of money required to probate a will can vary by state.
If a child you’ve added to your deed goes through a divorce, has tax issues, is sued by someone, or must declare bankruptcy, your house could be on the chopping block!
The term ‘estate planning’ conjures specific ideas about leaving assets to heirs, fighting over Mom’s jewelry and lengthy entanglements with the probate court.
When was the last time you updated, or even thought about, the beneficiary designations listed on your retirement accounts, life insurance, or annuity contracts? If you don’t remember, it’s time for a review!
One common question executors may have to deal with is how to transfer a car title after the owner dies.
One major misconception is we simply can tell loved ones what we want to happen for the purposes of health or property distribution and family members can ensure that those wishes are followed.
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.
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