An estate plan needs to be updated over time. Ideally, people will make a plan long before their family needs to use it. They then have to make adjustments and updates as the years go by to ensure that it remains current. One way to better ensure that documents remain...
Estate planning
Why New Homeowners Should Create An Estate Plan
Becoming a homeowner is a huge accomplishment – but it also comes with a lot of responsibilities. One of those responsibilities that may not be immediately apparent is the need to create an estate plan (or update the one you already have). Not only is a home a very...
The impact that strategic gifts can have on a large estate
When someone has significant personal property in their name, their estate planning needs will be different than those with fewer personal assets. They need to worry about taxes, outside claims against their estate and how loved ones might misuse a large inheritance....
2 kinds of assets people often forget when updating their estate plans
Estate plans allow people to outline their medical wishes in the event of a major emergency and their plans for their final legacy after they die. The terms people include are often very personal and prioritize the support and comfort of their closest family members....
Should I Create A UTMA Account For My Grandchild?
For older adults with significant personal resources, strategic giving is often a key part of their estate planning process. They make gifts to loved ones that do not create gift tax liability but that slowly diminished the value of their estate so that they won't...
The mistake many people make when disinheriting a child
For most parents, children will be the main beneficiaries when they put together their estate plans. Young children will require help if their parents die before they become adults. Many parents still want their children to receive most of their assets even when they...
4 Estate Planning Mistakes Grandparents Must Avoid
Older adults sometimes have a false sense of security when it comes to their estate plans. Especially if they created documents earlier in life, they probably assume that the people they love will have support and will be able to carry out their last wishes. However,...
How personal debts can diminish your lasting legacy after death
Maintaining a professional appearance and household can be very expensive. You may require revolving credits just to cover your cost of living expenses. Whether you have credit cards or take out personal loans, those unsecured debts will require repayment. Your debt...
When Is A Transfer-On-Death Form Appropriate As Part Of An Estate Plan?
There are numerous ways to arrange for property to go to specific people when you die. Moving assets into a trust is one solution. Bequeathing them to someone in a will is another common arrangement. However, the transfer of property in your will requires that it...
Should a right of survivorship play a role in my estate plan?
A right of survivorship is an important method for passing the title of your property on to joint tenants if one dies. Many people opt to use a right of survivorship rather than a simple will to pass on property because it is more difficult to contest. Survivorship...
