Category: Estate Planning And Wills
Estate Planning And Wills
When and how to update your estate plan as you divorce
If you’re preparing to divorce, it may seem like you’ve got a to-do list a mile long. Don’t forget to include updating your estate plan on that list. While the thought of dealing with any more documents and legal matters may be understandably unpleasant, you don’t want to put off crucial modifications. Otherwise, things could
2 ways that powers of attorney help protect you
There are many people who feel uncomfortable with the very concept of powers of attorney. These estate planning documents allow testators to name another party to manage their affairs while they are still alive. Powers of attorney take effect in the event of someone’s incapacitation. The people you name to act on your behalf could utilize
Reasons you may need to update your estate plan
An estate plan is essential for ensuring that your property and assets are distributed according to your wishes in the event of your death. However, it’s not something you can do once and forget about it. There are multiple reasons why you might need to update your estate plan. Life is always changing It’s important
2 ways to disinherit someone
Disinheriting someone in your estate plan can cause disputes. The heir that got left out of the plan may claim that other siblings manipulated their parents through undue influence. Or they may claim that it must be an accident and that they were just forgotten during the estate planning process. If you want to disinherit
Can you add a no-contest clause to your Arizona will?
The goal of creating an estate plan is to maintain control over your care as you age and your property after you die. Whether you have a will or a trust, you likely spent a significant amount of time deciding the best way to divide your property among your loved ones. You want to leave
Your estate plan needs to factor in your debts, not just property
When you talk to your children about your estate plan, you probably tell them who you want to receive certain property and how you want to split your remaining assets among them. However carefully you plan, your legacy could come apart at the seams if your estate plan does not include appropriate provisions for your
3 common estate planning mistakes
You probably know the importance of estate planning and might be thinking of how to go about it. While it’s never too late to act, you need to be careful not to cause any misunderstanding when you are gone. For example, an improperly drafted will can throw succession plans in disarray, and the conflict may stretch to
Estate planning is not exclusive to the wealthy
Estate planning is often misconstrued as something that only rich people need to consider. This may be partly due to the term “estate” itself. Literally, the word means a vast amount of property or land. However, in terms of estate planning, the definition has a much wider scope. Whether you’re old, young, married, single or wealthy,
What can an estate plan do for your young children?
For young people, estate planning is often the last thing on their minds. If you’re running your own business or caring for your newborn child, where are you going to find the time? While estate planning may not be your top priority as a young parent, it is certainly something that warrants consideration. If not
Reasons to tackle your estate plan now rather than later
It’s not easy to think about what will happen should you become incapacitated, let alone discuss the topic with other people. Nonetheless, the subject is important and many find it to be easier than anticipated. Part of coming to terms with the estate planning process is realizing the benefits it can bring. Due to the