When it comes to estate planning, we usually think of older adults. However, it’s a topic that we should also consider for college students. WDIO’s article entitled “Estate planning is for college students too” reminds us that there’s a number of documents you can put into place in the case of an emergency. Power of Attorney. There are … Continue reading Does My College Aged Kid Need an Estate Plan?
Category: Executor
Factors to Consider when Picking Executor, Trustees and POAs
Having your estate planning documents created with an experienced professional is important, as is naming the people who will be putting your plan into action. A key sticking point is often deciding who is the right person for the role, says an article from Nasdaq titled “Estate Planning: 5 Tips to Pick Trustees, Executors and POAs.” It helps to … Continue reading Factors to Consider when Picking Executor, Trustees and POAs
Could Your Estate Plan Be a Disaster?
You may think your estate plan is all set. However, it might not be. If you met with your attorney when your children were small, and your children are now grown and have children of their own, your estate could be a disaster waiting to happen, says an article “Today’s Business: Your estate plan—what could go … Continue reading Could Your Estate Plan Be a Disaster?
Top Five Estate Planning Mistakes
Everyone should have an estate plan, whether it’s a simple will or a detailed and complex one with trusts and strategies for multiple generations. The more care and thought put into the plan, says an article, “5 Common Estate Planning Mistakes to Avoid” from Kiplinger, the better the outcome. There are some common mistakes you can avoid with … Continue reading Top Five Estate Planning Mistakes
What Documents are Needed in an Emergency?
Most people don’t have any idea where to start when it comes to their emergency documents. This often keeps them from going anywhere near their estate planning. This is a big mistake, says an article, “3 tasks your family needs to complete to ease any anxiety over unexpected emergencies,” from MarketWatch. Estate planning is not just about wealthy … Continue reading What Documents are Needed in an Emergency?
Is an Estate Plan Battle Looming?
Some people don’t create an estate plan before they die. Or, if they do, they failed to have an estate plan created with an experienced estate planning attorney and their will is unclear, or even invalid. They might die with debts conflicting with their wishes. These and other situations can lead to a long and … Continue reading Is an Estate Plan Battle Looming?
Estate Planning Mistakes to Avoid
One reason to review your estate plan is to make sure people you’ve assigned roles to, like executor or guardian, are still living and willing to perform these tasks, according to the article “Five common estate planning mistakes to avoid” from the Idaho Press. Another is to be sure your estate plan is not missing out on any … Continue reading Estate Planning Mistakes to Avoid
How Do You Stop a Sibling from Stealing an Inheritance?
If the parent does not have a will, there may be questions about which sibling should inherit what. This gets complicated fast. State law can define siblings’ rights after parents’ deaths, explains an article from yahoo!, “Can a Sibling Take Your Inheritance?” An estate planning attorney can be a valuable resource, regardless of the size of the … Continue reading How Do You Stop a Sibling from Stealing an Inheritance?
What Exactly Does an Executor Do?
The executor is usually a spouse, close family member or trusted friend. If no such person is available, a qualified compensated person can be appointed under state law, according to an article from The Street entitled “Top Duties of an Estate Executor and How to Carry Them Out.” The executor needs to be trustworthy and organized, since there … Continue reading What Exactly Does an Executor Do?
What Is Included in an Estate Inventory?
The executor’s job includes gathering all of the assets, determining the value and ownership of real estate, securities, bank accounts and any other assets and filing a formal inventory with the probate court. Every state has its own rules, forms and deadline for the process, says an article from yahoo! Finance titled “What Do I Need to Do … Continue reading What Is Included in an Estate Inventory?