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Questions to Ask Yourself When Choosing a Guardian for Your Children
Deciding on a guardian for your children in the event of your death can be a difficult, emotional process. It’s very hard for us as parents to think of our children being left without us as they grow up. However, it’s extremely important to plan for worst-case scenarios so that if those situations arise, your […]
The Effects of Divorce on a Will
Certain life events could have a major impact on provisions of your will and other estate planning documents. After you approach a divorce, you should also go through your will as soon as possible to make changes as needed. You should especially be on the lookout for the following: Property left to your former spouse. […]
What are Beneficiaries and Devises in Estate Planning?
A bequest is an estate planning term referring to personal property distributed through a will. It does not include gifts of real property (such as a home or a farm or empty lot). Nevertheless, sometime people use the work “bequest” to refer to all gifts made by wills. The better word for that is “devise.” […]
The Benefits of Having a Video Will Signing
There is no such thing as a “video will.” Under estate planning laws, a will must be on paper and signed in the presence of two witnesses to be valid. However, you might choose to have a video recording of your will signing. A recorded will signing has several benefits, including: Proof you were of […]
Tips to Make Estate Administration Easier on Your Loved Ones After You Pass
As you plan for the future, it’s important to consider what might happen to your loved ones and your assets after you pass away. You can help alleviate a little stress for your friends and family members by staying organized in your estate planning efforts. The following are a few tips to help make estate […]
Tips for Managing Your Financial Assets as a Couple in Late Middle Age and Beyond
Many older couples have become used to an arrangement in which one of the two spouses has been primarily responsible for all of the couple’s major decisions in terms of financial planning, while the other, for example, might handle everyday household expenses. For instance, if the wife has been primarily responsible for finances for years, […]
New Law Could Provide Easier Access to Online Accounts after Death of Client
A new bill was introduced in 11 different states this month that could help give estate executors easier access to their deceased loved one’s online accounts. The legislation is named the revised Uniform Fiduciary Access to Digital Assets Act. It contains some guidelines and general procedures for gaining access to an individual’s online accounts after […]
Common Life Events that Require an Updated Will
When a major life event occurs, it’s important to update your will to reflect changing circumstances. Whether you are revising your will to add a new family member or simply wish to include additional assets, consider the following life events that typically require an updated will: You get married: When you enter into a marriage, […]
Important Considerations When Creating Your Will
A will is an essential component of nearly any estate plan. This important document can protect a life’s worth of earnings and assets, and provide for your family in your absence. Whether you’re updating an existing document or starting from scratch, there are a few key considerations to keep in mind: It’s never too early […]
Ensuring Inheritances are Spent Appropriately
Trust funds are created with the intent to provide for a loved one financially. Despite this, some grantors may be concerned that beneficiaries will squander allocated funds once they start receiving an inheritance. Fortunately, there are provisions that exist to help regulate the use and distribution of assets. Spendthrift provisions A spendthrift provision is specific […]