When you start your estate plan, you will likely begin by creating a will. This document lets you dictate how to distribute your personal assets after you die. According to the CDC Foundation, your will is also the document where you list your estate’s executor and...
Probate helps ensure that your administrator follows the plans you stated in your will. However, the probate process may take a while, and your heirs may not have the financial means to wait long for disbursement. There are several ways you can infuse your loved ones...
When an elderly person is trying to plan for their estate and who will get their heirlooms and savings after they die, undue influence can greatly influence what they choose. Potential beneficiaries who emotionally manipulate and pressure weak or confused elderly...
If you have ever had to plan a loved one's funeral, you undoubtedly remember just how expensive final arrangements can be. Indeed, according to World Population Review, the average cost of a funeral in California is nearly $12,000. When you include the cost of other...
It is easy to assume your family will step in if you are unable to make decisions concerning your health, but in reality, too few people carry on important conversations about end-of-life care. It is important to document your end-of-life wishes through an advance...
Any estate that has a will has an executor. The executor is the person that is in control of representing the estate while it goes through probate. Typically, the writer of the will nominates an executor at the time of writing. The executor makes sure that any taxes...
If you have an estate plan in place, then you probably know what would happen if you died today. But for those who do not have a plan, the state will step in. What happens may not be exactly what you would wish. For this reason, it is imperative to create an estate...
Estate planning is an ongoing process that involves strategizing and making decisions about your end-of-life desires. Allowing your plan to stagnate can have a detrimental impact on your future. When you know the dangers of an outdated plan, you can put provisions in...
If you have a significant amount of wealth and want to ensure it passes down through generations of your family, you can implement a dynasty trust into your estate plan. Some assets you may name in a living trust, placing them under the ownership of a beneficiary...
When creating an estate plan, many people think that if they have a trust, they do not need a will and vice versa. Wills and trusts can accomplish similar goals, but they can also work together to create a better estate plan. According to CNN, even if you have a...
