Tag Archives: estate planning
What You Can Do to Make Sure Your Grandchildren Get Their Inheritance
If one of your estate planning goals is to leave behind assets for your grandchildren, there are several steps you can take to accomplish this. The most important decision you can make is to have open, frank discussions about your estate planning goals with your adult children. If you want to be certain assets pass […]
What to Know About Discretionary Lifetime Trusts
A discretionary trust is a type of trust in which distributions are made at the discretion of another person (the trustee). Beneficiaries in this type of trust do not have any control over trust assets and are not able to demand distributions. These trusts are often used for minor beneficiaries. Here’s a quick overview of […]
What to Consider When Selecting a Guardian for Minor Children
If you have minor children, arguably the most important part of your estate plan is the stipulation in which you name the person who will take care of your children if you and the other parent should die while they are still minors. This person is known as the “guardian” of the children. Most people […]
Estate Planning Tips for Childless People
People who are single without any children often feel as though there is no need for them to worry about developing an estate plan. However, if you own any assets at all, you probably care about what happens to them after your death. In addition, there’s more to estate planning than just passing on assets. […]
Estate Planning Tasks to Get Done While Quarantined
Most of us are stuck at home for the foreseeable future due to the COVID-19 pandemic. Even if you’re still working from home, chances are you’re finding yourself with quite a bit more free time than you’re used to. This down time is a perfect chance for you to get some important tasks done at […]
Estate Planning Steps to Take When You Have a New Baby
Becoming a new parent results in a whole lot of changes in your life. It also tends to be a life event that encourages young people to finally take their estate planning seriously. Your child’s future will be greatly affected by the decisions you make now in your estate planning. It is important for you […]
Will an Inheritance Affect Child Support?
Child support arrangements can be modified when the person paying or receiving child support experiences changing circumstances in their life, including the amount of money they have. It is worth noting, though, that in most cases gifts and inheritances are not included in calculated income for child support purposes. Still, a court can consider an […]
An Overview of Durable Power of Attorney
Power of attorney is a type of legal document that empowers another person to act on your behalf in certain situations. This is a handy stipulation to have in your estate plan in the event you become incapacitated. If a power of attorney is “durable,” that means the document will remain in effect even upon […]
When Can a Will Be Declared Invalid?
There are some circumstances in which a person might challenge the validity of a will. As you prepare your will, it is important for you to create it in such a way that it avoids any of these potential pitfalls so it withstands any potential challenges it might face. Undue influence: If there is any […]
Why It’s a Good Idea to Plan Your Estate While You’re Young
There is a common misconception that estate planning is something people only need to worry about when they have a high-value estate, or have hit a certain age. The truth is everyone can benefit from estate planning, including people who are still quite young. Here are just a few of the benefits that come with […]