Here are a few estate planning pitfalls to watch out for: Avoiding the process: It’s never too early to create an estate plan, and waiting until a health crisis or other emergency strikes can leave you unprepared. Not speaking with a lawyer: While the internet is a great resource, it’...
What Is Estate Planning? Estate planning refers to the preparation of tasks that manage an individual's financial situation in the event of their incapacitation or death. This planning includes the bequest of assets to heirs and the settlement ofestate taxesand debts, along with other consideratio...
Still, many people aren’t sure what an estate plan entails or why it’s so important. In this guide, we’ll explain why estate planning is so vital. We’ll also provide insight on the best time to get started on an estate plan and ways you can make the process more affordable. ...
Estate planning involves anticipating and arranging for the distribution of an individual’s estate. It can be completed during a person’s lifetime or when the person becomes incapacitated. Depending on the situation, this planning may also be done after death. In either case, the process is i...
It’s wise to speak with an estate planning lawyer as soon as possible about your estate and the creation of a will and other documents. What Is Elder Law? Whereas estate planning focuses on what happens to your assets after you die, the area of elder law is more focused on managing...
In some places, an attorney can be designated a “Super Lawyer,” which is a network of highly rated lawyers. Also, check for membership in the American College of Trust and Estate Counsel. Ask for recommendations. Word-of-mouth still goes a long way, particularly if an attorney is well-...
What is a Real Estate Lawyer? Real estate lawyers are attorneys who specialize in matters related to real estate transactions and property law. Their expertise covers the legal aspects of buying, selling, leasing, or managing real property, which includes land, buildings, and associated assets. ...
An estate sale is a quick way to make some money by offloading a loved one’s possessions. However, if the sale isn’t done properly, it can cause undue stress and financial complications. Understand what an estate sale is and how the process works.What
In general, as long as you follow proper procedure—namely, to sign in the presence of two witnesses and an authorized notary public—the will is legally binding. Most wealthy people will hire a financial advisor and/or a lawyer to create a formal estate plan that stipulates who gets what....
Choosing an Executor for Your Will You'll need to name a still-living person as theexecutorof the estate. That person, often a spouse, adult child, or another trusted friend or relative, isresponsible for administering the estate. You can also name joint executors, such as your spouse or ...