Will Life Insurance Proceeds Have to Go Through Probate?

Tag Archives: beneficiaries

Will Life Insurance Proceeds Have to Go Through Probate?

One common question people with life insurance policies have is whether or not they need to worry about proceeds from those policies passing through probate. The good news is that rarely will those payouts be subject to the probate process, so long as you have stayed up to date with your beneficiary designations. However, if […]

Figuring Out Your Total Net Worth

Part of creating an estate plan that encompasses all your needs is knowing exactly what assets you own and their value. Calculating your net worth is important so that you can better plan out how you will pass on those assets to your beneficiaries. The following is a quick overview of the steps you should […]

Tips for Choosing the Right Successor Trustee

If you draft a revocable living trust as part of your estate plan, you likely named yourself as the trustee to allow yourself to continue managing your affairs until you are unable to do so, whether due to incapacity or death. Once that point arrives, someone else will need to step in to fulfill the […]

Can Unmarried Couples Engage in Estate Planning?

Estate planning for couples is not limited to those who are legally married. If you have a partner with whom you are very close, you should still prioritize estate planning to ensure he or she inherits your possessions after your death. Otherwise, if you pass away without a valid will, the state’s laws will dictate […]

Reasons You Might Consider Passing Some Assets to Your Heirs While Still Alive

One of the most significant benefits of estate planning is that it allows you to take control over who receives your assets and property after you pass away. However, you do not have to wait until your death to pass along money or gifts to your loved ones. You can give up to $14,000 worth […]

What to Consider When Estate Planning in a Second Marriage

When you’re in a second marriage, your estate planning process may look a little different than it does for couples who have only been married once. Both spouses in a second marriage might already have children from prior relationships. In addition, each spouse may have brought assets into the marriage that the spouse wants to […]

The Most Common Mistakes Made When Creating Trusts

As you create your trust, you should be mindful of some common mistakes that could either invalidate the trust or interfere with its effectiveness. The following are a few of the most common mistakes people make when creating a trust: Lack of intent: You must demonstrate your intent to create the trust for the mechanism […]

Talk with Your Family About Your Estate Plan to Avoid Potential Conflicts

When a loved one passes away, it’s somewhat common for conflicts to arise among beneficiaries regarding the deceased’s estate plan. In many of these cases, the conflict could have been avoided if the deceased had talked through the estate plan with his or her family in advance. The most common issue is that children or […]

Learning the Basics on Trusts

When it comes time to begin making arrangements for your estate, you might find that there is a great deal of information to go through and understand. With so many types of estate planning tools available, each with its own relative benefits, you may be wondering what the best option is for you. Increasingly, Americans […]

Why You Should Plan Ahead to Reduce Problems with Probate

When someone passes away owning assets in his or her individual name, his or her assets must go through probate, a process to insure that the estate assets are distributed to the proper beneficiaries. To help streamline this process, it’s important to set up a strong estate plan and make sure your loved ones are […]