How Bad Can a Do-It-Yourself Estate Plan Be? Very!
One Justice from the Florida Supreme Court commented that the expensive litigation far outweighed any savings resulting from the pre-printed form.
Avoiding Probate with a Trust
In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.
Estate Planning for Unmarried Couples
The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.
Not a Billionaire? Trusts Can Still Be Beneficial
Even if your asset base doesn’t measure up to the Bill Gates standard, you may consider using trusts in estate planning. This is because they can help your heirs in many different ways.
Who Should I Name as Trustee of My Trust?
Having a trust is just one important piece of the puzzle, when planning for your financial legacy. Another piece: your trustee.
What Does an Executor Actually Do?
One common trouble that many executors overlook: dispersing personal possessions that have little financial value but great sentimental value.
Don’t Ask Heirs to Guess What You Wanted—Have an Estate Plan
Passing away without an estate plan is a huge mistake that can tie up your estate for years in probate.
Do Name Changes Need to Be Made in Estate Planning Documents?
The fact is people’s names often change. People get married and divorced or sometimes just legally change their names.
An Estate Plan Will Determine How You are Remembered
Various studies show that most adults have not prepared a legal will. However, the point I’m really trying to make is that everyone has a will in a way—just not one that they have executed.
Your Spouse Just Died … is Probate Needed?
In many relationships, it’s common for one spouse to play money manager and the other to take a more passive role. This, however, can lead to major complications, when the financially dominant partner dies first.