As you build your estate plan, you may consider using trusts. These are accounts that you can set up, and then you can use the assets in your estate to fund the account. After you pass away, the trustee takes over and distributes the money in accordance with the...
Estate Planning
How estate planning helps to keep the peace after you pass
Have you created a list of who gets your antique grandfather’s clock? Or the silver from your first marriage? If not, you are likely setting your family up for quite a bit of conflict after you pass. The good news is, you can work to keep the peace after you pass, now...
Should I set up a spendthrift trust for my beneficiary?
You have decided to leave $250,000 to your only son upon your passing because you want to ensure that he has what he needs in the future. The only problem is that your son has a gambling addiction and does not make wise financial decisions. The last thing you want to...
Can you disinherit someone?
There are valid reasons to cut someone out of your will. Yet, if you do not do it correctly, they may persuade a court to overrule your wishes. Most kids would expect a share of their parent’s will. If a child gets zero, it's logical they will be upset and may blame...
When can your will be challenged in court?
Death is a taboo topic for most people. Unfortunately, it is a rite of passage for everyone. A will is an estate planning tool that allows you to determine how your estate will be distributed to your beneficiaries upon your demise. If you die without one (intestate),...
Talking to your parents about estate planning during the holidays
Over the years, many sitcoms, memes and jokes have been made about the stress of the holidays. Whether these issues are cooking disasters, family feuds or awkward conversations, the holidays can be a virtual minefield to navigate. Taking advantage of having family...
2 ways to transfer your family home in your estate plan
In many American families, the house where people live is the biggest asset the family owns. Even if you have other valuable belongings, your home may have substantial emotional value to you and other people in your family. Obviously, you want to ensure that you can...
Don’t minimize sentimental value when doing your estate planning
When you’re drawing up your estate plan, it’s understandable that you’re focused on who will be inheriting your largest assets, like your bank, retirement and investment accounts. You’re deciding whether you want to leave your home to a loved one or have it sold and...
Tips for creating an estate plan when you have few assets
If you don’t have many assets, then one of your questions may be if you actually need to have an estate plan. The truth is that all people can benefit from an estate plan, because without a will, trust or other protections, your estate could end up going to the state...
Planning an estate that you know will be surprising
Most families have certain expectations about inheritances. However, when all is said and done, the only person who has the right to determine beneficiaries is the person planning their estate. So, even though your siblings, cousins or children have the assumption...
