When looking for an executor for your estate, you will likely gravitate toward someone you know well. For most people, a family member will serve as their first pick. But is a family member your best option? Surprisingly, the answer is not always yes. Trusting your...
While creating and organizing your estate plan may seem daunting, getting information on the topic can help reduce confusion and simplify the process. One of the most common documents in your estate plan is the last will and testament. The last will and testament give...
Creating an estate plan is one of the wisest actions possible for preserving your legacy. Putting one together means assets have protection and will wind up in the right hands after you are gone. Many estate plans have errors that ruin their intentions. The more aware...
Individuals willing to give up control and transfer ownership of their assets may prefer an irrevocable trust over a revocable living trust. Kiplinger’s Personal Finance reports that an irrevocable trust may protect your assets from creditors while revocable living...
When you create an estate plan, a crucial part is to name a guardian for your children in the case of your untimely death. This person will make financial and personal decisions on behalf of a minor, and the court will appoint them into this duty. Thus, it is...
Individuals may help their heirs avoid probate by naming them as beneficiaries on certain accounts. As noted by Bankrate.com, several types of accounts provide money to beneficiaries as soon as the original account holder dies. Financial institutions generally refer...
As a landlord, you have the right to receive payment from your tenant. Unfortunately, people sometimes have financial hardships that can impact their ability to pay rent. If your tenant goes without paying for over a month, you may want to talk about your options. The...
When sitting down for estate planning, there are a few obvious talking points: wills, trusts and long-term care arrangements. Most of these logistics focus on making sure the property you earned during your life goes to the people who you want to pass it to after your...
If your elderly parents require round-the-clock care, you may have decided to move them into a nursing home. While you may be able to trust professionals at the facility to provide top-notch care, you probably want to keep a close eye on your parents' estate plan....
Having an estate plan in place is crucial for everyone, regardless of your age or level of wealth. It is equally important to communicate your wishes for your estate to your family, as they are directly impacted by these decisions. By being forthcoming and transparent...
