Most know how critical it is to create a last will and testament when estate pre-planning. Despite its name, however, a will isn’t the final document you need to ensure a smooth transferal of your earthly possessions to the next generation. Here’s a look at how a living trust smooths the way for the...
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When developing your estate plan, it is important to include your loved ones, especially if they will be beneficiaries or trustees. Discussing this sensitive subject can reveal your family’s level of comfortability when left in charge of your assets. Many people are hesitant to begin the conversatio...
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You’ve heard advance directives mentioned on TV medical dramas or on the news. But what are they and how should you use them? Advance directives are legally binding agreements that determine end-of-life processes and include living wills and medical powers of attorney. It is important to note that ...
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A transfer-on-death deed resembles a normal real estate deed in most ways, but it only takes effect when the current property owner passes away. It provides a convenient and economical way to give your home to an heir. Unlike wills, transfer-on-death deeds don’t need to go through probate cour...
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A will is your ironclad way to disperse your assets to loved ones as you wish. Here are a few of the top reasons you may need to update this important document. Change in Marital Status If you get married after a will is already in place, it’s important to update your beneficiaries to include [&hel...
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The estate you leave to your loved ones consists of real estate, personal property such as vehicles, and any other assets you might have. Unless you leave specific instructions on how you wish your estate to be distributed when you die, the state will decide who inherits your possessions. It’...
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