Estate Planning

Who wants to leave their money to someone who can't handle it? If any beneficiaries in your estate plan are minors or have physical or intellectual disabilities, you may want to set up a testamentary trust. One of the more complicated areas of estate planning involves trusts. However, they are an effective estate planning tool if used properly. Consider including a testamentary trust in your will if you have any concerns about your beneficiaries being unable to manage an inheritance.

Estate planning is often one of those things you intend to do someday. Or you may be waiting for when you have children or more assets to protect. Generally, young adults who do not have money or kids don't think about estate planning. However, the global pandemic has changed how young adults view estate planning. Specifically, more of them are making wills, financial powers of attorney, and health care directives.

When you write a last will and testament, you name someone to handle your estate after you pass. That person is called a "personal representative" or "executor." People often struggle over who to choose for what can be an enormous responsibility and thankless task. Here are some of the most common questions that people have about them.

Making the decision to start the estate planning process is an important one. The first thing you must decide is if you can use an online estate planning tool or if you should work directly with an attorney. There are benefits to both approaches, but only you can decide which is appropriate for you.

If you already have an estate plan in place, you might think you're all set and don't need to think about estate planning ever again. Most people actually need to update their estate plan every few years because life, finances, and relationships are always changing. Many changes happen over the years, and it is essential that your estate plan stays current to reflect those changes and the impact on your wishes.

You might assume a will is something only older people need to be concerned about. In actuality, every adult should have a will and estate plan, whether they are 18 or 99 years old.