Building an estate plan is an important part of end-of-life planning. A key factor in your estate plan is the person you name as executor of the estate. Remember that the executor is responsible for carrying out your final wishes, so you should choose carefully. There...
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Estate Planning
Should you include a revocable trust in your estate plan?
A revocable trust can benefit anyone planning their estate. It can allow you to bypass generations, protect assets against future legal troubles, or help you avoid probate. If you are planning your estate, you should consider including a revocable trust to help you...
3 common omissions during estate planning
Putting an estate plan in place is important for your family to secure their future, and for your peace of mind knowing that your wishes are clear. Taking the time now to articulate your wishes is a wonderful way to show your family how much you love them. However,...
Is it time to update your estate plans?
Creating an estate plan is one of the most important parts of preparing for what happens after your death. According to AARP, if you have a will or other estate documents, you are among just 40% of American adults who do. However, just setting up your estate plan is...
Who should serve as your health care representative?
While there are ways to increase your chances of having a healthy and long life, a serious injury or illness may stop you in your tracks. Even if you are unable to make medical decisions for yourself, you do not have to lose control over your health care. A medical...
Common estate planning mistakes
Estate planning is an essential part of preparing for the end of life, and even young people should consider it. Because the process can be overwhelming and complicated, people often make mistakes. Here are a few common missteps to avoid. Avoiding planning altogether...
How to make a dispute-proof estate plan
When it comes to disputes, many people are under the assumption that to dispute something all they have to do is make their challenge verbally known. While that may work in many practical applications, when it comes to estate planning, it is not enough. In order for...
Using your estate plan to provide for a disabled child
If you have an adult child who has a disability, you may want to use your estate plan to continue to provide financial resources for your son or daughter after your death. Giving cash, property or other assets directly, though, may be a mistake. Many government...
4 mistakes to avoid regarding beneficiary designations
You can create beneficiary designations for retirement accounts and control the distribution of these and similar assets following your death. However, mistakes happen. Here are four errors to avoid in dealing with beneficiary designations. Failing to name a...
3 essential qualities in a health care representative
Someday you may become so severely incapacitated that you are no longer able to make responsible health care decisions for yourself. An advance directive is a document that allows you to plan for that possibility and communicate what you want to happen in that...