It is important to consider the value of an estate plan, rather than just the up front cost. The cost of NOT have an estate plan will likely far outweigh the cost of working with an experienced attorney who can provide an expert evaluation of the benefits of an estate plan. This article highlights what NOT having a proper estate plan could cost you. What do you have to lose by not having an estate plan? Read more
USA Today’s article highlights several considerations to ensure that your will is “bulletproof”. Some of their suggestions are more helpful than others. We further analyze which suggestions are needed and which are less likely to be helpful to you. Read more
The advantages of a revocable living trust outweigh its potential disadvantages in most cases. As a result, a revocable trust is the recommended estate planning vehicle for most people. But there are some things that the creators of revocable trusts should be aware of when deciding to implement a trust. Read more
While there is no legal requirement for your to retain an attorney to put together your estate plan, this decision should be well considered and not taken lightly. Read more
The probate process is court-approved and involves the transferring of the assets of a deceased individual to the beneficiaries listed on their will. The process is usually set in motion by the person you have chosen as the executor of your will. Upon your death, he or she will seek an appointment by filing a petition in court. Read more
There are numerous “trust specialists,” “certified planners” and various other titled parties who, often misleadingly, indicate that the person has received advanced training in estate planning. Read more
Yes, you still need a will in order to handle all of the personal assets that are not part of your living trust. Read more
A lot of times people will act as their own trustee over their living trust until such time as they either become incapable to do so or they die. Others may not want to act as the trustee over their own living trust because they don’t know how to handle their financial affairs or feel they are too inexperienced to do so. Deciding who should be appointed as the trustee of your living trust is one of the most important decision you can make. Read more
Not necessarily. While having some form of an estate plan (such as a will and an advanced health care directive) is a good idea for almost all people, a living trust may not be a necessary component of some peoples’ estate plans. Read more
A living trust is a legal document that is, among other things, a partial substitute for a will. A living trust can provide broad and specific powers regarding most of you assets and is a key component of an estate plan. Read more