It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
A discretionary trust is a type of trust that can be established on behalf of one or more beneficiaries.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out likely considers you to be responsible and detail oriented. An executor of an estate typically helps file paperwork, close accounts and distribute the assets of the deceased.
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. But because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off — and even more pleasing to avoid them altogether. If there’s a lesson to be learned from the pandemic, however, it’s that waiting until the last minute to prepare is seldom a good idea.
There are two main kinds of trusts: revocable and irrevocable.
Like DMX and Prince, many Black Americans have failed to participate in the estate planning process.
You have many options to make sure your wishes are followed after you die.
Without a will, decisions made about your property and assets will be handed over to local courts, which can make an already challenging time even harder for your loved ones.
Seeking a guardianship for a loved one is a decision that shouldn’t be taken lightly. Here’s how the process works.
However, if you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.
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