Estate planning is all about ensuring that your wishes are met after your death. All estate plans should include a will and powers of attorney. However, in many cases, a trust has additional benefits beyond what can be accomplished with the will and powers of attorney.
When creating an estate plan, it may be necessary to name a trustee to handle your assets.
LOIs may also include whatever you think may help the people you leave behind or who would take over if you are not capable.
My aunt recently asked me to be the executor of her will when she dies. I’m flattered that she asked, but I’m not sure what exactly the job entails.
If you decide to leave assets in a trust for your beneficiaries, consider your designation of trustee carefully. The most important person in the trust framework is the trustee, the one responsible for managing trust assets.
What happens when a decedent’s will or trust does not provide for a decedent’s child?
Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.
Second honeymoons are definitely romantic. A third is even more so, unless maybe if each was with a different person. Nothing wrong with that, but it is a game-changer. The will or agreement you wrote 20 years ago, which maybe you have misplaced or forgotten, may not reflect your current thinking — or soulmate.
The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.
The period leading up to and shortly after losing a close relative is often one of the most emotionally demanding times that we, as humans, experience.
