When creating a will, one of the steps is appointing an executor who will ensure your wishes are followed. Executors have crucial responsibilities, including protecting assets before distribution, paying debts owned by the estate and filing tax returns, among others....
The right time for estate planning is possibly one of the most debatable subjects. Is there a right age, or do you need assets worth millions to take this move? Estate planning is necessary for younger and older individuals of any net worth as it includes vital...
Generally speaking, if someone passes away with money in a bank account, the funds from that account are going to be part of their estate. If their will then directs the estate administrator – sometimes called an estate executor – to split the wealth between two...
There are numerous aspects of estate planning, but the most fundamental of these is the will. This document oversees the inheritance of your beneficiaries and it can also specify legal guardians for your young children. Nonetheless, there are rules and procedures that...
A will is not only for older people, as some young people believe. If you have assets and/or children, it can protect them. Besides, wills are among the primary documents of estate planning. However, writing a will, especially for the first time, can be challenging....
Probate can be expensive and time-consuming, which is why many people prefer to avoid it when making their estate plans. There are various ways of skipping this court-controlled process, but it is crucial to understand the potential implications of the path you...
The process of estate planning can feel morbid, especially if you spend much time reflecting on the worst possibilities in life. However, it is necessary to do so to create the most effective estate plan. You can't protect your children properly if you don't think...
Music has always been a big part of your life, and you’ve spent decades building up an impressive collection. You have musical instruments that you play, and you also have CDs and a large collection of vinyl records. These tangible assets can be put into your estate...
You may want to disinherit someone when you create your estate plan. For instance, perhaps you have a child who is estranged from the family and you haven’t seen them in decades. But it doesn’t always have to be a negative reason. Maybe you just have a child who is...
Successful writers, musicians, digital artists and programmers (among other creatives) all have something in common: They generally receive royalties for their work that are paid out over time. Good estate planning needs to take these assets into account – so that the...
