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The loss of a loved one is often a traumatic time, mostly because of the emotions that come with the loss. While you’re grieving, you may face having to deal with your loved one’s debts. It’s critical that you understand how these are handled so you don’t get stuck...
When you create a power of attorney (POA), you’re giving someone else (an agent) the legal authority to act on your behalf. However, it doesn't mean they have a free hand in handling your affairs. The person you appoint as your agent or attorney-in-fact must act...
Estate planning involves preparing for the management and transfer of your assets during life and after death, with two of the most common tools used in this process being wills and trusts. Although they often serve related purposes, wills and trusts function in...
Cultural trends have shifted away from the written word in recent years. Widespread access to audio and video recording equipment has made it easier than ever for people to share videos or recordings of spoken communication with one another. People creating estate...
Most adults are probably aware that they need to have an estate plan in place, but some don’t realize that the plan should include digital assets. These are assets that are found online and can include things like emails, cloud storage, social media, subscription...
Probate proceedings are necessary to make sure that an estate plan is administered properly and in compliance with local regulations. After a person dies, their property becomes their estate, and their financial obligations, such as their credit card debts, become the...
Taking on the role of a trustee for a family trust can feel like a big responsibility, especially if you are new to legal responsibilities. You may be anxious about making mistakes or letting the beneficiaries down. Knowing your key responsibilities can help you...
Estate plans can help individuals prepare for incapacity. Medical emergencies that may follow car crashes or sudden events, such as strokes, often leave people unable to manage their affairs. Estate planning paperwork can nominate a health care agent to oversee a...
Everyone wants to ensure their estate passes on smoothly to loved ones without unnecessary complications or delays. For many families, this means avoiding probate, the court-supervised process of validating a will and distributing assets. One of the downsides of...
If you plan to pass your estate to your heirs, how sure are you that it will truly benefit them and the generations that follow? Life can be unpredictable, and circumstances beyond your control, like divorce, mounting debts or financial mistakes, can diminish what...