Naming a guardian for your minor child is a crucial step when creating an estate plan. It's vital to designate someone to take care of your child when you are unable to. But you should make the right choice to ensure your kids are protected as intended. Here are four...
Living trusts are helpful estate planning tools that allow you to organize your assets and their distribution after death. Some could benefit significantly from these options, but they are not for everyone. Others might have more losses than benefits if their estate...
A will is a fundamental component of any estate plan. This document determines who will inherit your assets. You can also utilize a will to designate guardians for your minor children and much more. Nonetheless, a will is only effective if it truly carries out your...
It is not at all uncommon for two adults who are still parenting minor children to marry and blend their families. Whether both parents have children or only one of them does, a blended family is far more complex than separate families were before the marriage. A...
A personal representative/executor will manage an estate when probate time comes. They will be in charge of money and assets – they will pay debts and taxes and can sell property if it's specified by the will or authorized by the court. Due to the criticalness of an...
An estate plan does more than allow you to distribute your assets -it lets you name a guardian who can take care of your minor children if you become incapacitated or die. You can name your chosen party in your will or draft a separate guardianship designation...
A common misconception is that estate plans are only for people with sizeable estates, multiple houses and valuable assets. While they will require more help creating a comprehensive estate plan due to the complexities of their estate, they are not the only ones who...
As part of the divorce property division, courts require each spouse to disclose all financial information relevant to the case, including bank account details and estate properties. This process is called discovery. Unfortunately, some parties intentionally withhold...
As the parents of adult children move further into their middle age and senior years, even if they’re fully cognitive and relatively healthy, stubbornness can be an issue when it comes to addressing pressing legal matters. It can seem to many adult children like the...
When establishing a trust, there are instances when a person leaves out assets, whether intentionally or not. Some grantors purposefully do not include assets in a trust because it would be disadvantageous. For instance, insurance companies charge higher premiums for...