You’ve always had an entrepreneurial spirit and a lot of drive – so opening your own business was always a goal. Over the years, you’ve managed to create a thriving company that you could easily see lasting for decades to come. So, do you leave the business to your...
As part of the estate planning process, it’s a good idea to start thinking about power of attorney. This makes sure that you have someone you trust in place who can make healthcare and financial decisions for you when you’re no longer in a position to be able to do so...
As an independent adult, you likely don't want to put yourself in a situation where someone else has control over your money or your health care, as you likely realize that many people who would take such a position could do so because they have an ulterior motive....
We all want to live a little something behind for the people we care about when we die. Sadly, a huge chunk of what you’ve worked hard for can end up going to the government by way of probate fees when distributing your estate. Basically, probate is the process of...
A trust and a will allow people to decide who will inherit from their estate. Despite that, a trust and a will aren’t the same kinds of legal documents, however. These legal documents each have their unique advantages and disadvantages. Here’s what you should know:...
A large part of estate planning involves thinking about what happens when you eventually die. The other main purpose is to put precautions in place in case you fall into ill health. There are two parts to this kind of planning: financial and medical. Financial...
Your estate plan determines what happens with your property when you die. You can name a family member or someone else you trust to serve as your representative and specific individuals to receive specific assets. A will gives you an opportunity to name a guardian for...
Talking to your parents about their finances and what would happen when they die can be uncomfortable, to say the least. After all, death is taboo in most households. However, if you decide to discuss estate planning with your parents, it is important that you know...
It’s often said that most people don’t have an estate plan. And this is true, as the majority of Americans haven’t done their planning yet. But the key thing to remember is that this doesn’t mean no one wants an estate plan or that no one understands how valuable it...
Estate plans allow you to reduce your beneficiaries' tax liabilities after you die. They can also reduce the potential of estate litigation due to disagreements between your heirs. While estate planning can help you maximize your estate's value, it's important to...