When considering the components of a comprehensive estate plan, life insurance policies often go overlooked. Like others, you may not realize how beneficial it can be to manage life insurance policies through an estate plan. It can improve life for your loved ones...
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Estate Planning
What happens after claims of a fraudulent transfer?
Most people who own high-value assets are eager to retain control of those resources indefinitely. They could potentially achieve that goal through asset protection planning. Otherwise, outside parties including creditors and people who file lawsuits could place liens...
2 ways to plan for medical decisions in your estate plan
Just because you are in fine health now does not mean you will always be. An illness or an accident could take your good health away in an instant and leave you fighting for your life. What would you want to do in a situation like that? Would you want to accept any...
When should you update your estate plan?
Life is fluid and full of changes. Your estate plan should reflect those changes. Creating an estate plan is not a one-time task; it requires periodic updates to remain effective and relevant. What life events should trigger a review of your estate plan? 1. Marriage...
2 benefits of a Payable on Death account
When creating an estate plan, you may use a transfer-on-death arrangement to transfer mutual funds, stocks and things of this nature. But it only applies to investments. If you want to do a similar thing with a bank account, then you have to use a Payable on Death...
2 factors to consider when choosing a guardian
Conversations around estate planning generally involve money and assets. While distributing assets upon a person’s death is central to estate planning, there is much more to it. One option that testators have is to name a guardian in their will. A guardian is someone...
What can you do with an incentive trust?
A trust is a document you can use alongside your will to protect assets during and after your life. With the right trust, you can avoid estate taxes, disputes and probate. There are many kinds of trusts you can make, such as a generation-skipping trust and a...
The emotions involved in estate planning
Estate planning is often viewed as a complicated process. Even though its procedures significantly contribute to this concern, the emotions of planning for incapacitation or death are what make it challenging for many people. Here is what to know about the emotional...
3 examples of trustee abuse of power
When you designate a trustee for your estate or trust, you place a significant amount of trust in that individual to manage your assets responsibly and in accordance with your wishes. However, there are situations where trustees may abuse their power, potentially...
Nevada pet owners: Addressing your pets in your estate plan
Pet owners often consider their pets family members, so planning for them in case their owners pass away seems only natural. Fortunately, Nevada law has special regulations that help to govern how this situation can unfold effectively. If you want to care for your...
