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...
Estate Planning
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...
Options for your home in an estate plan
If you're still living in your home while creating an estate plan, you need to figure out what to do with that property when you pass away. If that home is paid off, you probably don't have very many assets that are worth more, so this is a very important decision....
Who pays for a deceased person’s funeral?
When a loved one dies, there are a lot of things that have to be handled – including the disposition of their earthly remains. One of the first things that you’re forced to confront is the issue of who will pay for your loved one’s funeral – and how. Here’s what you...
3 kinds of family members that will benefit from a trust
For some people, the idea of a trust conjures images of spoiled children raised by the enormously wealthy. However, trust-fund babies are a tiny percentage of the people who benefit from trusts in the United States. Many different kinds of people would benefit from...
Including your digital assets in your estate plan
Many valuable assets these days aren’t anything you can put your hands on. They’re digital. Two kinds that have grown in popularity in recent years are cryptocurrency and nonfungible tokens (NFTs). With these two assets, if no one can access them, that’s money down...
You have a will, but is it valid?
You have worked hard your entire life. You have created a considerable amount of wealth. And you want to be certain that your assets will go to the rightful heirs when you pass on. For this reason, you have created a will. Congratulations! But, is your will valid?...
How will bankruptcy impact your estate plan?
If you find yourself struggling to pay your bills and make ends meet because of debt, then you might be considering bankruptcy. Bankruptcy at an older age could have a negative impact on many aspects of your life, but the good news is that there are exemptions that...
Potential problems if you don’t update your estate plan
Making an estate plan is just the first step. It is also important to keep an eye on that plan and update it periodically. Some people do this on a set schedule, such as checking over it every year, while others do it when life events dictate that it's time to do so....