Trusts can be useful for many kinds of estate plans. Depending on the situation, a trust can hold assets or provide guidance for their distribution. A living trust can be helpful as you plan who will inherit the assets of your estate. With a living trust you can...
Estate Planning
Is it time to update my estate plan?
An estate plan is an essential part of helping your loved ones wrap up your affairs while passing on your legacy. The assets you leave for your loved ones can help them move forward with the life you imagined for them. An important part of a thorough estate plan is...
Can I plan for mental incapacity?
Mental incapacitation is not an issue everyone will encounter, but it is one that can come suddenly and without warning. Once someone lacks the mental capacity to write a will or create an estate plan, chances are slim that their condition will reverse significantly....
Is it too late to write a will?
Many people feel that writing a will is something they can put off until a later time. As long as you or your loved one is alive, it is easy to rationalize waiting to decide how to divide the assets of an estate. Life, however, is unpredictable. Whether it is sudden...
The difference between guardianships and powers of attorney
When your parents age, you may begin to notice that they have a harder time managing specific affairs than they did earlier in life. If you have genuine concerns about a parent’s emotional, physical or financial well-being, you may need to take action. Per AARP, you...
When should I consider getting a financial power of attorney?
Some aspects of your life seem so simple and routine that you cannot imagine the inability to do them. Tasks such as paying your bills and managing your mail are typically not things you worry about delegating. Life is unpredictable, and its unpredictability can leave...
Is equal distribution between children essential in estate planning?
When you begin to think about distributing your assets after your death, it can be challenging to know which assets to leave to whom. Discussing this with your family before developing an estate plan can make matters more complicated. While your loves ones may have...
Should I change my estate plan after a family disagreement?
Every family has disagreements. In some families, arguments take place just about every time they get together; for others, disagreements are rare. While tempers are still high, you may decide to change what a family member will receive after you pass away. Here’s...
When should a power of attorney be part of my estate plan?
Typically, when considering an estate plan you probably think about a will and possibly a trust. After deciding what you will leave behind for loved ones, these documents nominate those you have chosen to handle important matters after you pass away. An estate plan...
What are the advantages of a having a trust?
Developing your estate plan can be quite confusing. Over the course of your life you may have heard people mention trusts, but never considered whether a trust would fit into your estate plan. While there may be pre-conceived notions about trusts in the media and...
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