Estate planning is important for everyone, but it is especially vital for individuals who have a blended family following a remarriage. The estate planning goal of ensuring that natural children (and grandchildren) receive their inheritance becomes more challenging in a blended family situation. Other special estate planning concerns warrant consid…
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If you are unmarried and do not have children or living relatives, you might think that estate planning is not important or deserving of your attention. However, it is an undertaking that is essential to protect you during your life and ensure that your property does not end up in the hands of the state. Singles sometimes feel there aren’t good o…
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Many individuals support charities and philanthropic groups throughout their lives by donating regularly to organizations and causes that touch their lives or do work important to the donor. Charitable giving also is an important part of estate planning for a lot of people. Lifetime charitable and philanthropic gifting is usually a simple matter of…
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Estate planning and financial planning are different processes that help you protect your assets and plan for the future. Each process has a different purpose. Estate planning attorneys and financial planners have distinct roles and expertise — but your estate plan and financial plan work together to help you achieve important long-term goals. Wh…
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When someone mentions “estate planning,” most people think the term refers to deciding what happens to their property after they die. In fact, some of the most important parts of your estate plan protect you — and your family — during your lifetime. When Should You Make an Estate Plan? Accidents and medical emergencies give no advance warni…
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The primary goals of estate planning include protecting your family and ensuring that they benefit from your financial legacy. But there is another important purpose behind planning your estate, one that many people do not even consider consciously. Thoughtful and thorough estate planning avoids family conflicts that could ruin relationships irrepa…
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Wills and trusts are both important estate planning tools. But they accomplish very different goals. If you understand the difference between a will and a trust, you have an excellent foundation for planning your estate. What Is a Will? A will is a legal document in which you designate the individuals or organizations that receive your assets and p…
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When you create an estate plan, you accomplish a significant goal. You also gain the peace of mind that comes with protecting your financial assets and legacy. However, you can follow up that accomplishment with a major mistake if you do not update your plan when circumstances warrant. But exactly how do you know when to update your estate plan? Ge…
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If you own a business, you spend most (or all) of your time running the business. Do you ever consider what would happen to your business without you? You probably don’t — but you really need to consider that possibility. Business succession planning is the best way to plan for unexpected events that can dramatically affect your business. You i…
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Some of the most important documents in a sound estate plan do not relate to what happens to your property after death. Those documents — called durable powers of attorney — protect you and your assets during your lifetime. If you become unable to make your own decisions for any reason, your durable powers of attorney designate someone you choo…
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