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...
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Estate Planning
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...
Are there any downsides to an incentive trust?
An incentive trust is a type of trust that can hold assets and only release them to an heir if they meet certain stipulations. The goal is to incentivize that heir to act in some specific way. For example, parents are sometimes worried that adult children will quit...
Involving your adult children in your estate planning
Parents of adult children sometimes struggle with deciding whether to include their adult children in estate planning conversations or whether they don’t tell them anything. There are benefits to discussing your estate planning with your children, even though it may...
3 things to know about irrevocable trusts
When you’re creating your estate plan, you may decide that you want to pass assets down to your loved ones. Many people want to do this as easily as possible. Trusts are one option that you have when you’re setting up the estate plan. These are classified as either...
What should you know about a revocable trust?
People who want to pass assets down to their loved ones need to ensure they set up their estate plan so it reflects those wishes. Some simple estates can use the will to do this, but others may choose to use trusts. There are many types of trusts, all of which fall...
Your trust may be invalid due to these 2 common reasons
Trusts are some of the most useful estate planning tools. The asset protection benefits and flexibility they offer are almost unparalleled, which could perhaps be the reason behind their growing popularity. However, like every other legal arrangement, everything must...
3 assets you should never include in your will
Most people appreciate the need for a will. If you are considering creating a will, you need to ask two crucial questions: firstly, who should inherit your assets when you die? And secondly, what assets should you include or leave out of your will? A properly drafted...
Financial events that should prompt updates to your estate plans
Estate planning empowers you to manage your assets and healthcare during your life, but it also gives you a degree of control after death. For example, the asset distribution instructions you created while alive remain in effect until your estate clears probate. You...
