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August 2017 Archives

Do you know how to form a revocable trust?

For many individuals who reach the stage in life when they start thinking about estate planning, forming a trust seems like an obvious choice. Still, it can seem a bit like legal magic without a proper understanding of the basic functions and creation process of trusts.

Prince's estate continues to struggle toward resolution

It has now been more than a year since the late (and inarguably great) artist Prince passed away suddenly, leaving a vast estate to his heirs with no proper estate planning in place. Unfortunately, the issues of his estate continue to unfold, delivering a potent warning to those who have yet to establish a proper estate plan.

How do I revoke a will?

It is common knowledge at this point that everyone should have a will, but simply having a will is not always enough to properly express your wishes and protect your estate. If your will no longer suits your needs, or if you have created more than one will and wish to eliminate confusion for your loved ones, it is often necessary to revoke an existing will. There a number of ways to accomplish this, depending on your circumstances.

Life insurance policies and estate planning

Estate planning is a complicated matter, and becomes more complicated as a person's assets become more complex. In many cases, some types of assets may prove far less valuable than they seem at first if a person does not take proper precautions to protect them against the drains of taxation after they die. Few assets are as vulnerable to this type of asset deflation as life insurance policies.

Does your estate plan take care of your favorite belongings?

If you're like many people, the things you own are merely things — except for those belongings that carry great personal significance to you. As you survey your assets and evaluate an estate plan, you may realize that you have certain possessions you want to ensure receive proper love and care after you pass away.