Many people delay estate planning because they think they are too young to need one. One study found a massive 67% of eligible American adults do not yet have one. That can be a costly mistake both for the person and their loved ones. Remember, estate planning is also...
Estate Planning
Why do so many people postpone estate planning?
Estate planning is something that the majority of Americans have not yet done. Studies have found that about two-thirds of people don’t have an estate plan. This can be somewhat surprising, considering that estate planning should, in theory, be very common. Won’t...
Yes, you can change your child’s designated legal guardian
You and your spouse or partner gave a lot of thought to choosing the person who would become your child’s legal guardian should something happen to both of you. You chose a family member or close friend you trusted to raise your child with the same basic values and...
Should you choose an adult child as your estate executor?
One of the most critical decisions involved in estate planning is choosing the right party to fill the role of estate executor. Some qualities to look for in your candidates include honesty, attention to detail and reliability. Since your adult kids are familiar with...
Why is a medical power of attorney important?
Estate planning often starts with writing a will and determining how to give away your assets. You want to pass the things that you own on to your children or other beneficiaries, such as close family friends. But this isn’t all that estate planning can do. It’s just...
3 estate plan updates you need to make once you have children
For many young professionals and new adults, the main focus of their first estate plan will be protection for themselves. Advanced directives and powers of attorney help ensure that you have someone you trust to advocate for you and manage your affairs in an...
What should you include in your estate plan?
There’s a misconception that estate plans are only for individuals with a lot of assets or older individuals. However, the truth is, that estate planning is a smart and responsible step to take for all adults. Each estate plan is unique and based on your needs and...
Can a trust fund protect your child?
You want to ensure your child grows up happy and healthy – that may be why you started putting money away for their future. One of the first things parents should consider when protecting the future of their child is setting up a trust fund. A trust fund is an...
The problem with drafting a will on your own
The internet has made almost everything much more accessible. You can do your banking online, gain an education and communicate with people across the world. You can also do your estate planning this way. However, is this in your best interests? There are numerous...
The 3 R’s of a good executor
You have plans for your estate after you pass away, and you need the right person to carry out those plans. What you need is a trustworthy and loyal executor of your estate. Choosing an executor as you are developing your estate plan saves you the fear that your...