Estate planning, an important aspect of financial preparation, is often clouded by misinformation. It is important to discuss prevalent myths associated with estate planning. Trying to find clarity on important decisions that impact your financial well-being can help...
When managing an estate, it is important to understand the various types of bills that may arise. Estates, by their nature, incur numerous financial obligations that an executor must address diligently. 1. Funeral expenses One of the primary obligations an estate...
Your will is an important part of your estate plan, but it is not the only way to give your family an inheritance. Placing your money and property into a trust may allow for better fulfillment of your estate wishes. Kiplinger explains that trusts come in two main...
Estate planning requires you to consider the future and define your wishes. Many people include a document designating powers of attorney in their estate plans that name a trusted person to represent their interests in cases of incapacity. If you are ill, disabled or...
If you have already created an estate plan, you might wonder about altering and updating your plan as your life continues to change. Your estate plan is not set in stone, and you can revisit and modify it. In addition, you can choose to update your plan regularly and...
As you age, you want to ensure that everything you have built gets dispersed how you want and to whom you want. According to a Caring.com survey, only 33% of Americans have a living trust or will. Unfortunately, even as one of those with a plan, your wishes may get...
The subject of death is rarely a conversation that family members want to discuss because of the emotional and mental toll that type of conversation can take. However, discussing your estate plan with your adult children will prevent any surprises about their...
Less than half of Americans have a will prepared, perhaps because of the grim association with one’s mortality. Even with modest assets, and no matter how old you are, having a will prepared is in everyone’s best interest. Here are a few tips for estate planning in...