As more of our life goes online, it is essential to consider what happens to your digital life when you die. Your estate plan needs to cover your digital assets, not just your physical assets. What does this mean? Digital assets are anything stored digitally. These...
The idea of being able to pass something on for the next generation is something people around the world strive for. However, for those with substantial assets, an inheritance could produce negative effects for the next generation. Children who grow up surrounded by...
Getting your estate plan in order is a big undertaking, especially when you have a higher net worth that encompasses a variety of assets. The higher the value of the estate, the more planning you may have to do. As of 2020, the exemption for having to pay federal...
Many people do not appreciate the full importance of estate planning offers. The consequences of having or not having plans in place can affect friends and family for generations. Without an iron-clad estate plan in place, a decedent will leave their loved ones with...
If you are dealing with the death of a loved one, it can be hard to deal with the problems that can arise with their estate. One of the major issues that you may be struggling with is finding out that a trustee breached their fiduciary duty. A trust that was set up...
When you pass on, your executor will step in to handle a variety of responsibilities. Think about it this way: This person will now do all of the things that you used to do for yourself. For many people, naming an executor is a challenge because they must come...
Trusts offer flexibility and options that traditional estate planning -- i.e., writing a will -- simply cannot match. A trust gives you power over what happens to the estate even after you are gone, and it can also offer options to save money, especially in taxes, so...
When you are getting your estate plan put together, one thing you should include is the guardian for any minors in your care. If you have a child, you should designate a person as a guardian, so that they will have someone to take care of them in the case that both...
Estate planning can be complicated even if you already have a will. Those provide instructions for distributing property and assets after you die. But financial conditions and relationships can change over time. What if you want to manage them while you are still...
California residents and others who don't have children can still benefit from creating an estate plan. This is because they will still need others to assist them in paying bills or taking care of other tasks if they became incapacitated. Appointing a financial agent...
