The modern blended family has far more needs when it comes to estate planning than a traditional family. Here are some challenges, tips and solutions.
If you die without a will, you die “intestate” and your assets will be distributed according to your state’s law. That could result in a distribution you didn’t intend.
If having assets distributed outright to a beneficiary could cause potential problems, there are several reasons to think about creating a trust.
The term ‘estate planning’ conjures specific ideas about leaving assets to heirs, fighting over Mom’s jewelry and lengthy entanglements with the probate court.
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.
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