Month: May 2018
Most people aren’t prepared for incapacitation: Are you?
How well prepared are you for incapacitation? It is a pertinent yet uncomfortable topic among many, which is perhaps why a good number of people do not have such plans. Life’s unexpected turns, whether due to a sudden illness, an accident or even aging, can lead to...
3 reasons to discuss your estate plan
If you are making your estate plan, you may be wondering if you should talk to others about it or keep things to yourself. Here are a few reasons why talking to select individuals about it may be useful 1. To reassure your loved ones When you die, or fall seriously...
What are revocable trusts?
People who are creating an estate plan have to consider the various mechanisms available to get their assets to their loved ones after their death. Some people may be able to do this through a will, but others opt to use trusts. One type of trust that you may come...
Does your college student need an estate plan?
When you’re packing your young adult child off to college, you’re full of hopes and dreams for their future. Why, then, would you (or they) be thinking about estate planning? The answer is that everybody needs an estate plan, no matter their age or assets – and that...
How do you choose the right person to be your health care agent?
Estate planning isn’t just about designating who will inherit your assets after you’re gone. It can also let you plan as much as possible for a time when you may not be able to care for or even speak for yourself. One of the most important documents in your estate...
Incorporate a different kind of tradition into your estate plan
Some people choose to add a separate component to their estate planning. Swedish death cleaning, or döstädning, is a type of physical and digital purge of all the items that have clogged up your life. The goal is twofold: You want to spare your surviving loved ones...
3 ways an executor can reduce inheritance drama
One of the most difficult aspects of being the executor of someone’s estate is the fact that emotions can run very high. Not everybody (and maybe nobody) is going to agree with how you handle the job. What can you do to navigate this situation effectively, without...
What can you do about undue influence in estate planning?
Wills and other estate planning documents are supposed to reflect the wishes of the creator. A will, for example, sets out how assets should be distributed upon the testator’s death. While other people can benefit from the estate and guide the testator in certain...
Making use of an incentive trust
There are many different kinds of trusts you can add to your estate plan. One you may be interested in if you want to protect your assets from misuse is an incentive trust An incentive trust allows you to make clauses that your beneficiaries must meet if they want to...
When might you need a pour-over will?
A pour-over will is a type of will you can set up when you base your estate plan on a revocable living trust - which is something people may do to keep assets out of probate among other things. The problem with a revocable living trust is that you need to remember to...