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Month: August 2019

How to ask a chosen party to be your executor

After determining the qualities you want your executor to possess and finding the right party, you need to initiate a conversation. But how do you ask someone to accept such a complex role? Here are three tips that can help you: Let them understand your criteria for...

Disinheritance tactics: What you should know

There are lots of different reasons that a parent may choose to disinherit one of their children – and it’s not always an adversarial situation. For example, parents may choose to disinherit capable, successful adult children to leave more resources behind for their...

Do you need to go to a will reading?

In the past, people would find out what they were inheriting at a will reading. This is often used for dramatic effect in movies and television shows. For instance, someone may be surprised to find out that they have inherited the family business or outraged to...

How often do estate plans need to be updated?

Estate planning is a so-called “living process,” as estate planning documentation benefits from periodic review and updates to better ensure that it remains aligned with your life circumstances, financial situation and goals.  As a general guideline, reviewing your...

Making charity a part of your estate plan

Estate planning largely revolves around leaving assets to your loved ones upon your death. Nonetheless, there is much more to it than this.  Charity plays a huge part in the lives of many people. If this is the case for you, then you may want to make charitable giving...

What are the advantages of a POD account?

A payable-on-death (POD) account is a bank account that has a beneficiary designation. Essentially, you have the ability to use a Totten trust – the technical name for the necessary paperwork – and transform your personal bank account into a POD account if you would...

Do most people already have an estate plan?

If you haven’t made an estate plan yet, you may think that you’re falling behind. Perhaps you assume that most people already have a plan in place, and you’re the one who needs to get caught back up. In fact, maybe this assumption is why you are now considering making...