The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
You may love your son-in-law or daughter-in-law now, but that could change down the road. So, if you don’t want your money going to your child’s future ex, here’s what you should do.
You may love your son-in-law or daughter-in-law now, but that could change down the road. So, if you don’t want your money going to your child’s future ex, here’s what you should do.
Putting your last wishes on paper is critical to ensuring your family is taken care of when you die.
What are the advantages of putting assets into a trust?
Have you made any plans to distribute your assets and take care of your family, when you die or become incapacitated?
In addition to deciding who gets what when you die, you have key roles to fill that deserve thoughtful deliberation as part of the estate-planning process, experts say.
Whether you need a living will vs. living trust as part of your estate plan depends on your overall financial situation and goals. However, it’s helpful to consider the advantages of including one or both in your planning efforts.
If you’re in a blended family, you’re already aware of the emotional and financial issues involved in your daily life. However, what about the future?
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