The wordestateis colloquially used to refer to all of theland and improvementson a vast property, often some farm or homestead or the historic home of a prominent family. However, in the financial and legal sense of the term, an estate refers to everything of value that an individual owns...
What is an estate plan? An estate plan is a series of legal documents outlining how you want your affairs managed after you pass away. An estate plan may address questions and concerns regarding matters like: Guardianship, or who will care for your minor children or special needs dependents...
Estate planning is a broad term that is used to describe the process that individuals go through to plan the administration of their assets and liabilities before and after they die. This process also includes writing a will, reviewing accounts and assets, creating joint accounts, preparing other ...
While having an estate plan in Australia is not a legal requirement, it can be a worthwhile plan to make sure your family and friends are well cared for in the event of your passing. How Do You Create an Estate Plan? Many people are put off by the idea of creating an estate plan be...
Trying to make an estate plan on your own can lead to incomplete or faulty documents, and potential legal problems down the road for the heirs. Speaking with an estate planning attorney is always a smart move. Not sharing your estate plan: Not talking about your estate plan with your loved...
What Is Estate Planning? An estate plan is essentially a collection of legal documents. The most common is alast will and testament, according to theAmerican Bar Association(ABA). But you might consider placing your assets in a trust instead because you want to avoid the probate process. You...
An estate planning checklist It can feel daunting when having to plan your estate. For practical advice specific to your situation, contact us** to uncover the True Potential of your estate. What is your estate? An estate is the collection of all assets belonging to an individual, including ...
Key Components of an Estate Plan The Process of Estate Planning The Role of Probate Tax Implications and Estate Planning The Importance of Trusts in Estate Planning Conclusion Essence of Estate Planning At its core, estate planning is the process of designating who will receive your assets and han...
It also skirts probate, which is the legal process that takes place after death to review the will and other matters. Probate is not required to transfer those assets after death if you have trust. Jennison believes not having an estate plan may wind up costing more post-death. ...
A solid financial plan is highly individualized to reflect the unique circumstances each person brings - the plan unites both needs and wants for one's future. If a client's bucket list involved a trip abroad, you likely wouldn't advise them to head to the airport without any plans. They...