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As you make your estate plan, one of your main goals may be to avoid disputes between your adult children. Perhaps there has always been some element of sibling rivalry. Maybe you have seen other families get into disputes that leave lifelong rifts between siblings....
Wills are typically physical documents. People once wrote their wills by hand or had an attorney manage that process for them. Modern testators establishing estate plans frequently have lawyers draft printed instruments that are more legible and professional-looking....
In the event of an incapacitating incident, a person may need emergency medical care while they remain incapable of expressing their wishes to others. A living will or advance medical directive helps clarify what preferences an individual has. An advance directive can...
Estate administration imposes many obligations on personal representatives or executors. Fulfilling financial obligations is one of the most important responsibilities during estate administration. Personal representatives who make major mistakes related to the...
It can sometimes be difficult to bring up estate planning with your own parents. The implication is that they are going to pass away soon, which makes people feel uncomfortable. From your perspective as an adult child, you may also be wary of making your parents think...
Creating a will is a key part of preparing for the future. It lets you decide who should receive your property and who will handle your affairs when you pass away. Some people consider writing their own will to save time or money, but doing it yourself comes with...
The estate planning process is about more than writing a will or setting up trusts. It also means selecting individuals to handle important responsibilities. These individuals, known as fiduciaries, must act in the best interests of others. Their roles are central to...
In this day and age, we live more of our lives online than ever before, from banking and sharing memories to even building businesses and storing important documents in the cloud. However, few of us stop to think about what happens to all that when we’re gone. Digital...
There may come a day when an adult isn’t able to make decisions on their own. Some adults may have powers of attorney designations in place for people to make their health care and financial decisions. If there’s no power of attorney in place, an adult guardianship is...
If you're planning to leave wealth to your grandchildren, there's a tax you should understand first. The generation-skipping transfer tax (GSTT) can surprise families who try to pass assets down more than one generation. Understanding how GSTT works The GSTT applies...
