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...
Animals generally classify as property under Florida's statutes. Because you cannot leave your assets to property in a will, your pets or other animals you own cannot inherit your assets. You could, however, create a trust and provide instructions for your chosen...
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 When you know the dangers of an outdated plan, you can put provisions in...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...
Most Americans are aware that having a will in place, even at a young age, is a wise decision. However, many hesitate before doing so, mostly because the process often seems very overwhelming. However, it does not have to be that way. For persons with smaller estates,...
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...
If you have a child or loved one with special needs, you may worry about his or her future without you. As a child's caregiver, you cannot guarantee that you will be there for the course of his or her life. Likewise, your children may want to try to have some...
When it comes to the tools you can use to plan your estate, you have several options. One such tool is the irrevocable trust. Of the five main types of trust you can use to organize your estate, an irrevocable trust is perhaps the least practical. When you create an...
Taking out a life insurance policy is one way to provide for your family in the event of your death. After you die, your beneficiaries will receive the benefits from your policy without the need to go through probate. However, as the Insurance Information Institute...
