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Whether you started your company or inherited it from a family member, it may be more valuable than any other single asset included in your estate plan. Like any other particularly valuable asset, a business requires careful consideration. Do you want it to remain...
Estate planning is important at any stage in your life, but some people believe that it isn't as important when they have young children. A lot of this has to do with their own age. They assume that they have years to worry about how they will pass their assets on to...
Most of those called on to serve as trust administrators feel honored to accept such a role. However, some of them do not understand the full extent of their responsibilities. Further, many trust administrators or trustees are ill-prepared for the scrutiny they might...
You are certainly not on your own if you don't have a will or any other documents for your estate plan. Studies have found that most people in the United States do not have a plan in place. It is more common for older individuals to have an estate plan, but even a lot...
Probate is the process used by the court to ensure that an estate plan is carried out as specified by the deceased. This includes confirming the value of assets, paying the deceased’s final taxes and bills and distributing anything that remains to their loved ones. In...
A typical estate planning scenario. You get together with an estate planning professional. It takes some time, but eventually, you create a sound plan that protects your loved ones and your assets. It sounds like a recipe for estate planning success except for one...
Estate planning requires that you confront some unpleasant realities, such as the fact that you will eventually die. The best estate plans protect not just the people you love after your death but also you as an individual as you grow older. Age or an injury could...
Many people’s estate plans consist only of a will. They may not need the protection of additional documents. However, many find that adding more instruments to their estate plan gives them more control over their legacy and extends more protection for their vulnerable...
When most people think of estate planning, they think of things like making sure that the intended person gets the house. There’s another aspect to estate planning that you need to think about. You can provide instructions about your medical care and name someone to...
Most people know what a will is. It is a document outlining someone's last wishes. Frequently, those with children will name a guardian in their will, and those with assets name beneficiaries for their property when they die. Some people will also create trusts as...