Don't think about your estate planning as something you just need to do for yourself. Think of it as something that you need to do for your family. After all, they're the ones who are going to see the negative consequences if you do not.Say that you put off your...
Do I need a probate attorney?
Year: 2019
3 estate planning documents beyond a will
Your estate planning may start with a will, but you may not necessarily want to let it end there. You have many more options. One of the most common is a trust, which allows you to leave money to the trust -- rather than putting it into your will -- and then letting...
How much do most people have when they retire?
Considering the net value of your assets -- and your debts -- is a good place to begin if you are looking into your estate planning options. To know how to pass that wealth on effectively, you need to know exactly how much you have. People often underestimate or...
Do your heirs owe your mortgage after you pass away?
As you write your will and attempt to decide what to do with your family home, you realize that you could still have an outstanding mortgage loan when you pass away. In an ideal world, you'll pay it all off first, but you never know what the future holds.If you pass...
Should you disinherit a child?
Disinheriting a child means cutting them out of your estate plan. When you pass away, even though they probably expected to get some of your wealth and assets, they get nothing.You do have the legal ability to do this. But should you do it? One thing to consider is...
Don’t put off writing a will
People often put off writing a will until something happens that makes the need for one more obvious than it has ever been before, and they wonder why they haven't done anything for decades. They scramble to get everything together.For instance, someone may be...
Parents often change their age-based trusts
When parents set up trusts for their children, one reason they often cite is that they do not want the child to get all of the money too early. While the child may technically be an adult at age 18, for instance, they cannot imagine giving a high school senior or a...
Is it time to write a will?
Odds are good that you did not think much about writing a will when you were in college. Maybe you even ignored it as a young professional getting started in the workforce. You only had debt, and few assets, and you did not have anyone else in your family to take care...
Who takes the kids if you and your spouse pass away?
Some questions really make parents feel uncomfortable, and with good reason. One such question is who takes the children if you and your spouse both pass away unexpectedly.Did that make you cringe a little bit? It's not fun to think about. It's something that a lot of...
Fraud concerns with estate planning
The unfortunate reality is that the elderly often get targeted by scams and victimized by fraud. There are a few reasons for this, one of which is simply that they tend to have the assets and savings that others are seeking. This is especially true when they are...
