Estate planning is the process of documenting your wishes and how you want them to be carried out following your death. It’s an essential part of your end-of-life plan. Still, many people aren’t sure what an estate plan entails or why it’s so important. In this guide, we’ll exp...
Estate planning is the preparation for the distribution and management of a person’s estate at death through the use of wills, trusts, insurance policies, and other arrangements, especially to reduce estate-tax liability.Estate planning is a branch of law that involves the arrangement of a ...
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...
If you’re unsure what’s involved in eitherestate planningor will creation, the following information may prove helpful. What is an Estate Plan? An estate plan involves creating a plan for your assets and any investments when you die. It ensures your loved ones are provided for while also ...
I had no idea an accounting service needed to be consulted when considering how you would dispose of your assets upon your death. I thought you just needed to consult a lawyer to draw up a will and that would be it. What I particularly dislike is the proposition that your beneficiaries mu...
You can create a trust in one of two ways: You can do it yourself, or you can hire an estate planning attorney to facilitate the process for you. Because hiring a lawyer is such an important decision, you’ll want to make sure you utilize someone you can trust for legal advice. Look...
“Death is not the end. There remains the litigation over the estate.“ —Ambrose Bierce Conclusion Estate planning is the process of deciding and putting in writing what happens to your assets after you die. An estate plan gives you the control to provide for your family if something happens...
The executor must be over 18 without prior felony convictions and can be a friend, family member, or a professional like a lawyer or accountant. The executor's duties include:1 Estimates the estate's value by using either the date of death value or the alternative valuation date, as provide...
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 considerations like the guardianship o...
A living trust is a legal arrangement established by an individual (the grantor) during their lifetime to protect their assets and direct their distribution after the grantor's death. It is an estate planning tool that can help family members and beneficiaries avoid a lengthy, public, complex,...