Making an estate plan is a good idea, and it’s often wise to make it while you’re still young. After all, you never know what life holds or exactly when your family will need that plan. However, if you make it long before you actually have to use the plan, this means...
Some grantors create stand-alone trusts or put them into a will. Others, however, put their life insurance into a trust — aka a life insurance trust. (It’s sometimes called an irrevocable life insurance trust.) Putting your life insurance policy into a trust has many...
Do you understand what a power of attorney (POA) document does? It allows you to give another party the authority to act on your behalf as a designated agent. You might think powers of attorney are only for emergencies, but having one or more in your estate plan means...
Your will allows you to name someone to serve as a guardian and take care of your children. It also allows you to control who receives specific property from your estate. Many people are overzealous in their desire to name beneficiaries for assets when planning their...
People put off estate planning for a lot of reasons. Often, they delay until they’re senior citizens or until things in their life are more “settled.” Unfortunately, we never know what the future is going to bring. That’s why it’s best to create an estate plan that...
Sometime in your life, you’re going to consider making a will. This legal document can help detail what you want your beneficiaries to inherit, who your power of attorney is and how you want your funeral conducted. The sooner you make a will the better it is for you...
A will is a fundamental part of an estate plan. This legal document outlines how your assets should be distributed upon your death. Perhaps you want your children or grandchildren to inherit most of your assets? Maybe you want to leave a little bit to your favorite...
Trusts, in their many forms, provide powerful and versatile ways of estate planning beyond what a simple will can achieve. One unique option for passing on your estate while also securing those assets in the long term is through an asset protection trust. There are...
You did the responsible thing when your child was born and selected a person to be their legal guardian if something were to happen to you and your spouse or partner. You talked it over with them, and they agreed. You codified everything in your estate plan. Now...
Planning your estate may be one of the wisest decisions you can make. Not only does it decide where your assets go when you die, but it could also determine how you’re cared for if you’re in an accident or suffering from an illness. Many people who make estate plans...
