Tag Archives: beneficiaries
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 […]
Negotiating Your Will When Stepchildren are a Factor
In some situations, drafting a will can be a complex matter, especially if you have a large and extended family and many people you would like to name as beneficiaries. If you have stepchildren, you may wish to dictate exactly how your assets and property will be distributed to these individuals upon your passing. Occasionally, […]
Getting Your Affairs in Order Will Give You Peace of Mind
You may have heard that it is never too early to get your affairs in order. While this might seem like ominous advice, an important point to remember is that when you begin estate planning early, you can rest easy knowing you don’t have to think about it during the twilight of your life. Retirement […]
What Provisions Are Necessary in a Will?
When you’re creating a will, it’s important to follow all appropriate guidelines to make sure its validity never comes into question. Wills require a number of provisions to be considered legal and when these rules aren’t followed there can be a number of problems following a person’s death. Additionally, there are a number of clauses […]