Inheriting an estate isn’t always a process that inspires gratitude. Sometimes, this process can be downright tough. Whether you’re dealing with the passing of a loved one or planning ahead for your own estate, understanding the steps involved can help ease the...
Estate Planning
Choosing the right health care proxy
Some of the most important documents in your estate plan have nothing to do with how you want your assets distributed after you’re gone. They involve detailing your wishes for a time where you may not be able to express them yourself and designating someone to...
Tax-efficient estate planning: Minimizing your tax liability
Tax-efficient estate planning can help you minimize the tax burdens that your estate will incur upon your passing. By making this effort, you can work to maximize the value of your estate for the benefit of your beneficiaries and your legacy overall. To this end, if...
3 ways insurance can be part of your estate plan
Effective estate planning takes more than a will. It’s a comprehensive process that looks ahead and plans for numerous different situations that can occur both before and after the end of your life. Insurance policies of various sorts can play an important role in...
3 estate planning myths that need to end
Despite how often people plan their estate, misconceptions about the process can make it less likely for people to understand the importance of the process. As a result, many people die without an estate plan, which can complicate matters for family members as they...
What might make a will invalid?
When you’ve worked hard your entire life and accumulated wealth, you want to be sure your estate will go to the right people when you die. This is the essence of creating a will. Without one, the government would determine who gets to inherit your property and who...
What you need to know about witnesses to the signing of your will
The final step in drafting your will is signing it in front of witnesses. Too many people who take their estate planning into their own hands or use one of those online will templates neglect to do this – or at least to do it correctly. That essentially makes the...
Why everyone needs an estate plan, regardless of age
Many people neglect to make an estate plan. They often do this because they think it’s something that they should address later on in their life. They essentially believe they’re too young to need an estate plan and that it is something they can set up when they get...
Don’t let your IRAs become a tax burden on those who inherit them
Estate planning isn’t just about designating which assets you want to go to specific loved ones or other beneficiaries. It’s crucial that you think about what kind of tax or other financial impact those inheritances will have on the people to whom you leave them....
How can I know whether my aging parent needs guardianship?
As your loved ones age, paying close attention to their well-being becomes increasingly important. One of the challenging decisions families might face is determining when guardianship is necessary for aging parents. Guardianship, also known as conservatorship, is the...