Revocable trusts are a popular option in estate planning. They offer a unique blend of flexibility and security, making them an attractive choice for many. Like any legal tool, they come with their own set of features and considerations. A revocable trust, sometimes...
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Estate Planning
What you should know when challenging a will
You may not have planned to challenge your loved one's will, but some factors may lead you to do so. Will contests can be complicated. Therefore, you should be well prepared. Here is what you should know: You need valid grounds You must have valid grounds to challenge...
What to consider when naming an executor
When creating an estate plan, an individual typically needs to appoint someone to carry out tasks concerning their estate. For some, it is easy to determine someone for the role. Other times, it can be challenging because various factors may make that job harder or...
Why should you consider a trust?
A will is a standard legal document in your estate plan. It’s possible that your heirs and beneficiaries may have their inheritance taxed, have to wait for probate and could get caught up in legal disputes if you only have a will. When you make your estate plan, you...
The role of mental capacity when signing estate planning documents
Mental capacity is of paramount importance when it comes to estate planning. Simply put, it involves the ability to clearly make decisions while also understanding the effects of their actions when it comes to drafting essential documents and understanding the impact...
Update your estate plan when there’s a new addition to your family
In a world where family dynamics and financial situations are constantly changing, it’s crucial to recognize the importance of maintaining an up-to-date estate plan. Estate planning is not a static process; it’s a living strategy designed to help protect your assets...
3 estate planning tips after having a later-in-life child
Maybe you and your spouse decided to have another child several years after the last one was born. Or maybe the two of you had an unplanned pregnancy. Either way, a new child is a welcome and beloved addition to the family, whether their siblings are five or even ten...
3 things your executor should know
Your estate plan reflects your wishes, and your executor helps them come true. In addition to this role, executors have other significant duties. Due to the sensitivity of their position, they need to be adequately informed about matters concerning your estate. This...
What does digital estate planning accomplish?
Digital estate planning refers to the process of organizing and managing one's digital assets and online accounts in preparation for incapacitation or death. In the Digital Age, individuals tend to accumulate a significant amount of digital property, including: Email...
Unequal bequests are becoming more common
It used to be much more common for people to leave the exact same amount of assets to all of their beneficiaries. But there has been a trend in recent years where unequal bequests are becoming more and more common. People are splitting up their assets in ways that...
