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If you own a small business, you probably spent considerable time and effort building it and making it successful. Now that it is thriving, it may be time to think about what might happen to your business when you die or if you become incapacitated. Estate planning is...
A power of attorney is an estate planning document that gives power to someone else to make decisions for you. For instance, you could set up a financial or legal power of attorney if you need to allow someone to do things like accessing bank accounts, paying bills,...
Estate planning can be as complicated or simple as an individual’s unique needs. Some people simply create a will, while others create a variety of different documents. Those who are part of more complex family scenarios and who have more resources to pass to others...
An estate plan helps people instruct how their assets are distributed after they pass away. Anybody can make their estate plans once they become a legal adult. Many testators make their estate plans as early as possible. An estate plan that’s made early is often...
You already understand the importance of creating an estate plan that includes a will, trusts, powers of attorney and advance directives. But have you put any thought into your digital estate plan? As technology progresses, our lives become increasingly digitized....
Estate planning tools have varying functions and rules, yielding different benefits based on how they work. Some people might be familiar with wills, but some could benefit more from other estate planning options, such as living trusts. Trusts are formal written...
While many individuals have the necessary plans to distribute their assets to loved ones after death, few have things covered in the event of incapacitation. It is equally important to be prepared for such unforeseen possibilities. Incapacitation refers to the...
Many people don’t make estate plans while they’re young. This is often believed because estate plans are perceived to only focus on what happens after someone passes away, which may not happen for years still. However, there are many benefits of creating an estate...
There are many ways to transfer your property to your beneficiaries when you die. A will is the simplest and arguably most popular means of planning for the descent of personal property. Many people may execute deeds or make transfer on death arrangements for...
Your estate plan might not be top of mind if you’re planning to divorce. However, if you have one (and you should), you’ll likely need to make some modifications to it. Your plan should reflect your needs and wishes now and after divorce. Some changes can be made...