5 MISTAKES MADE BY SUCCESSOR TRUSTEES (AND HOW TO PREVENT THEM)
When establishing a trust, you need to give serious thought to choosing your successor trustee—the person who will administer your trust once you’re no longer able to do so. This individual ideally should be:
Read More5 TRAGIC MISTAKES PEOPLE MAKE WHEN LEAVING ASSETS TO THEIR PETS
A pet trust is an excellent way to make sure your beloved pet will receive proper care after you pass on. The problem, of course, is that you won’t actually be there to see that your wishes are carried out. It’s critical to set up a pet trust correctly to ensure there are no loopholes or unforeseen situations that could make your plans go awry.
Read More5 THINGS EVERY NEW MOTHER NEEDS TO KNOW ABOUT WILLS
As a new mother, you naturally want to ensure your new baby’s future in every way. For many new mothers, infancy is a time for celebrating new life, and making a will is the last thing on their minds.
Read MoreDID YOU INCLUDE YOUR GRANDKIDS IN YOUR WILL? 5 TIPS TO AVOID COMMON PROBLEMS
As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. However, that bond can actually turn into a weakness if proper precautions aren’t set in place.
Read MoreWHY YOUR ESTATE PLANNING PROJECT MUST MORPH INTO A PROCESS
Many people put their estate plan on their to-do list as a one-time project: “Create estate plan” or “Meeting with lawyer 10:30 a.m. Thursday for estate plan.”
Thinking of your estate plan as a single project or task to complete and move off your list is a common approach – but it’s also an approach that can land you in considerable hot water. Here’s why it’s essential to view your estate plan as a process, rather than a project.
Read MoreYOUR ESTATE PLANNING BINDER: TIPS FOR PROPER CARE AND MAINTENANCE
YOUR ESTATE PLANNING BINDER: TIPS FOR PROPER CARE AND MAINTENANCE You finally crossed “getting your estate plan done” off your list, and you’ve (rightly) breathed a huge sigh of relief. By tackling this challenge, you’ve not only established protections for your loved ones and legacy, but you’ve also freed up some important “mental space” that…
Read MoreIS A FINANCIAL PLAN ENOUGH? WHY EXPERTS SAY YOU NEED AN ESTATE PLAN, TOO
IS A FINANCIAL PLAN ENOUGH? WHY EXPERTS SAY YOU NEED AN ESTATE PLAN, TOO If you want to leave a robust financial legacy for your family, a financial plan alone is like trying to guide a boat with just one oar. It’s only part of the big picture for your overall monetary health. A well-informed…
Read MoreTHE PROS AND CONS OF PROBATE
THE PROS AND CONS OF PROBATE In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people – especially those with larger estates – financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the…
Read MoreWHY A TRUST IS THE BEST OPTION FOR AVOIDING PROBATE
WHY A TRUST IS THE BEST OPTION FOR AVOIDING PROBATE As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into…
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