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.
A power of attorney is a legal document that gives a person the authority to act on another’s behalf.
When someone passes away, it’s up to their executor to handle the probate process. However, what happens if the executor of a will dies?
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.
The conditions for amending a trust, including who has the authority, is usually set out in the document.
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.
One of the most important parts of estate planning is making a will. When you make yours, there are a couple of different ways you can choose to divide your assets among your heirs.
A marital trust is a complex estate planning tool that should be crafted carefully. Because of its tax benefits, you should work closely with an experienced estate planning attorney to ensure that the marital trust is established properly.
Being named as an executor in a loved one’s Last Will and Testament is a big responsibility. It is important to understand what you are agreeing to before you step into the role as executor.
The primary benefits of revocable trusts only are available if a revocable trust is FUNDED during life. Unfortunately, experienced estate planning attorneys often have clients who delay the funding of their revocable trusts until it is too late and miss many of the benefits that these trusts provide.
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