When estate planning, it's easy to focus so much attention on your assets that you overlook details that are every bit as important. For example, you must name a guardian for any children under the age of 18.
When you create an estate plan, do so with the idea that you'll have to make changes in the future. This guarantees that you're always on the lookout for any changes that will benefit you and your loved ones.
When creating a will, there will come a time when you have to choose an executor. This is the person who will review your will, enter it into probate and ensure that everything goes as you have planned.
When creating an estate plan, it's important to think about what would happen to your finances if you were to become incapacitated. If you're unable to make your own decisions, you want to know that someone responsible can step in and do so on your behalf.
There will come a time when you decide to dive in and create your first estate plan. Even if you waited longer than you should have to do this, you're now faced with the process.
Creating a will is one of the best things you can do from an estate planning perspective. Even if you do nothing else, this legal document will ensure that your property ends up with the right person or people upon your death.
There are many ways to create an estate plan that gives you the peace of mind you're seeking.
As your parents age, you may come to find that they don't have the best (or any) estate plan in place.
Any estate planning mistake has the potential to have a negative impact on your life, but some are more powerful than others.
Your will is one of the most important pieces of your estate plan. Without one, the grantor dies "intestate," meaning that all default laws and processes are utilized to divvy up the person's assets and belongings. Having a will is critical, and for those who don't have one, we want to strongly encourage you to create one and have it properly reviewed and completed as soon as possible.