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What happens to your assets after you pass away? With the use of a will, you can decide. You could choose family members or friends to inherit your estate after you pass away. How will you know that your estate is administered according to your last wishes? This...
One of the most important documents necessary for estate planning is a will. A will can outline your last wishes, including how you wish for your estate to be managed after you pass away. Your will can also name beneficiaries who may potentially gain from your estate....
When planning your estate, you might think that dividing your assets equally among your heirs is the fairest approach. However, this might not always be the case. Unequal distributions can sometimes be the most reasonable solution. Below are scenarios where this...
When someone living in the Fairfax area dies, local courts likely have jurisdiction over their estate. Family members with an interest in the estate may have questions about the overall probate process. Those who may serve as the personal representative of an estate...
An estate consists of the property in an individual's name when they die. Everything from their personal property and their vehicle to their home may be part of their estate. Some people create estate plans where they name specific beneficiaries. They can nominate the...
Trusts can serve as the primary testamentary instrument of an estate. They can also help people protect their assets or provide for a loved one with special needs. There are several important considerations when creating a trust. Those considerations include choosing...
You might not think of writing your own obituary as part of your estate planning. However, increasingly, people are doing that. Even if you plan to stick around for many more years, writing your obituary can be a good way to look back on your life, realize all that...
If this is the year you’re finally going to put an estate plan in place, you may be considering one of those online estate planning websites you’ve seen advertised on television. A do-it-yourself estate plan may seem like all you need if you don’t have especially...
Selecting the right executor is a critical decision when preparing your estate plan. This person will manage your assets and follow your final wishes after you pass away. Financial literacy is a key trait to look for in an executor. Executors must act in the best...
Losing a loved one is never easy. Besides the emotional turmoil, there are practical matters to attend to, such as settling their estate. One of the first steps you may encounter in this process is understanding the difference between probate and non-probate assets....