Executors of an estate plan have a very important job - or rather, a series of jobs - to accomplish. To that end, it is important for you to select the right person for the job. But what exactly do executors do, anyway? What do you need to keep in mind when picking...
What do executors actually do?
When planning an estate, it is important to understand the true function of an executor. This better helps you select a good person for the role. But what do executors actually do? They are crucial to an estate plan, but in what way? Leadership duties of executors...
Understanding what powers of attorney can and cannot do
If you are planning to draft your will, you may also be thinking about the benefits of other estate planning documents, such as powers of attorney. Financial and medical powers of attorney (POAs) will help immeasurably if you should become disabled. Here is what these...
Consider the costs of your funeral and how to pay them in advance
While death is an inevitability we must all plan for, the costs of the funeral industry shift with every passing year. Handling those costs ahead of time helps to save your loved ones a lot of hardship when dealing with the heartache of their grieving. When you sit...
Should your estate plan include a living will?
Should you suffer an incapacitating injury or illness, you may not have the ability to make medical decisions for yourself. Therefore, these potentially life-and-death choices will typically fall to your family members. You likely trust your loved ones to make health...
Do you need to tell your family about your estate plan?
When family members ask about your estate plan, you might wonder what to tell them. Some may inquire because they care. Others might only want to press you to know what their inheritance will be like. Monitoring the information you share can protect you and alleviate...
What are some common estate planning issues?
When dealing with estate planning, you may encounter situations that you have never heard of before. Planning for the unexpected during probate is one way to reduce tension and worry around the subject. Failing to organize your assets According to Kiplinger, seriously...
5 potential estate planning mistakes you can easily avoid
Creating an estate plan is something anyone can do at any age—and should. Perhaps you have the basics in place, such as a will and a medical directive, and are ready for other tools. Of course, you may also be starting from scratch. Regardless, here are five mistakes...
Why is estate planning important when you have young children?
Planning your estate is always a good idea, particularly when you have young children who depend on you for daily necessities. Understanding the role an estate plan plays in protecting your children may give you the incentive to start strategizing right away. Without...
Should you change your estate plan after your divorce?
Going through a divorce is rarely simple. Even if you and your ex-spouse opted for a collaborative divorce, the end of your marriage likely brought a multitude of tasks for you to complete. For example, you may have had to find a new place to live, close joint...
