An estate plan provides a way for you to think ahead and protect your assets. Maintaining your plan requires ongoing effort throughout your life. Careful preparation can optimize the value and function of your plan. Knowing how to finetune your strategy can help you...
When you die intestate, which means without a will, the state law dictates the distribution of your property. For this reason, it is a good idea for everyone to have an estate plan in place because it lets control remain with you. The Legislative Commission notes that...
As a homeowner, your house should be a critical part of your estate plan. According to AARP, your home is your most valuable financial asset. Determining what happens to it after you pass is not always an easy decision. If you have children, you may consider leaving...
If you feel like you need an estate plan but do not know where to start, you have a lot of company. According to CNBC, only about 33% of all Americans have an estate plan. Many people know the importance of an estate plan, but many put it off for various reasons....
The purpose of Medicaid is to help low-income seniors pay for long-term care and medical care. For this reason, you may only qualify if you meet the stringent financial eligibility requirements. Because the income and asset limits are so low in most states, most...
What is an Executor? An Executor is the legal representative you nominate in your Will to represent your probate estate upon your death. After filing the Will in the Probate Court, the Court officially appoints the Executor. The Executor then gathers the assets that...
Thinking about anything related to death and dying is never enjoyable, whether it is to do with one's own passing or that of a close friend or family member. However, it is an inevitable process that most people will go through at one point or another. While families...
Imagine that you had a toolbox that contained a hammer and a screwdriver and someone asked you which tool was better. The question would be impossible to answer because each tool does something different. Estate planning documents such as wills and trusts are tools...
Managing an estate plan is a difficult task that requires a lot out of an executor. Because they will handle many personal and important matters to you, it is natural that you will want to lean toward a family member that you love and trust. However, this is not...
After creating your estate plan, you cannot simply let it sit forgotten as you continue to live your life. Life is not a static thing, which means your estate plan cannot be, either. But how do you know when it is a good time to update your plan? Changes to assets and...
