A lot of thought goes into an estate plan, so it’s critical that you carefully consider all the options you have to get your assets to your loved ones when you pass away. For some people, hearing about trusts is mystifying because they believe all trusts are only for...
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Wills And Trusts
3 types of beneficiaries you can name in your will
A will provides instructions on how your assets are passed on to beneficiaries. You can name individuals or entities as beneficiaries. What matters is that your final wishes are honored in your estate plan. Here are three of the most common types of beneficiaries....
Why does the state require witnesses for a will signing?
A will has many uses, including establishing guardians for children after a parent dies and naming beneficiaries to an estate. Wills are often the only document people draft when they begin estate planning. After all, a will can accomplish many of people's primary...
3 types of beneficiaries who may not be able to directly inherit
The simplest way to leave resources for specific parties is to name them as beneficiaries in a will. Many people establishing estate plans only draft wills. They can designate beneficiaries and specify what assets those beneficiaries should inherit. They can name a...
3 ways to check if your loved one left a will
When someone passes away, the family they leave behind would often have to navigate the legalities of distributing their estate, all while dealing with grief. If you and your family are in this situation, one of the most crucial steps is determining whether your loved...
Will vs trust: what are the differences?
Understanding the tools available for managing your estate is crucial when planning for the future. Two of the most common estate planning tools are wills and trusts. While both serve the purpose of distributing assets, they differ significantly in structure and...
Who can serve as witnesses to a will signing?
Wills are among the most important estate planning documents. For some people, they are the only document that they create. A will can name the person who oversees estate administration, designate specific beneficiaries and provide children with a guardian if anything...
4 trusts to consider adding to your estate plan
Trusts are one of the must-haves of a well-crafted estate plan. Revocable living trusts are particularly recommended thanks to their flexibility and ability to bypass probate. However, revocable trusts are just one of the many trusts you can add to your estate plan....
How can I modify a non-charitable irrevocable trust?
Irrevocable trusts are often seen as unchangeable, but there are certain circumstances where modification is possible. If you are a beneficiary or a settlor of a non-charitable irrevocable trust, you might be wondering if there is any flexibility in adjusting its...
Is a Qualified Personal Residence Trust right for you?
Have you ever considered what would happen to your most valuable asset if something unexpected happened to you or your loved ones? Would your family be able to keep the house, or would it be lost to creditors, taxes or other external factors? A Qualified Personal...