When crafting your estate plans, you want your assets to provide a safety net for your loved ones, help fund their future goals or give them a boost in life. However, you may be concerned about how your heirs might handle a substantial sum, especially if they do not...
Estate Planning
3 common mistakes when choosing a guardian for your minor child
As a parent, one of the most loving acts you can do for your child is to make sure that you have a plan for them in case something happens to you before they’re grown. That means getting your estate plan together and choosing someone to nominate as your child’s legal...
A large inheritance can potentially do more harm than good
People enjoying their retirement years frequently make choices based on not just their own comfort but also on a desire to leave a legacy for their loved ones. Providing children, spouses and even grandchildren with practical support is a common goal for aging adults....
What happens if I do not have an estate plan?
Dying without a will is called dying “intestate.” When a person dies intestate, they do not have control over how their assets are managed or distributed. Intestate can create many problems for your family and friends – yet, it is estimated that over half of U.S....
Should you choose a professional or personal executor?
Is it better to hire a professional executor than to appoint a loved one? This is a question you may have when looking for an executor. Professional executors, such as an attorney, a bank, an accountant, or a trust company, are experienced. They have worked with...
Does everyone else already have an estate plan?
Do you ever feel like you’re falling behind with estate planning? Maybe you know that you want to write a will. Maybe you’ve already thought about which beneficiaries are going to get certain family heirlooms or how you want to divide your money among your children....
What exactly is an estate plan?
You may have heard that it is important for adults to create an estate plan and to keep it updated. This is certainly true. But, it’s tough to make that goal a reality if the idea of estate planning is a murky one. By better understanding what an estate plan is, you...
Reasons to switch your child’s legal guardian designation
As a parent with a young child, you need to have a specified legal guardian named in your estate plan. This can help to ensure that your child will be cared for in the event that something happens to you and the child’s other parent. There are various reasons why you...
What to include in your estate plan for your children’s welfare
Since life can be so uncertain, you should go the extra mile to help safeguard your children’s well-being. Do you know the most critical elements you can incorporate in your estate plan to secure your children’s future? Planning your estate with your kids in mind can...
3 common estate planning mistakes
Estate planning is essential in preparing for the future. It helps ensure that your loved ones are cared for, and your final wishes are implemented. However, without the proper knowledge, you may find yourself making mistakes that can have significant consequences....