Wills offer many benefits and are an important part of any estate plan, regardless of how much property you have. Your will can ensure that after death your property will be given to the loved ones you designate. If you have children, a will is necessary to designate a guardian for them. Without a...
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Category: Estate Planning
Duties of an Executor
General Duties of an Executor
Securing the decedent's home (changing locks, etc.)
Identifying and collecting all bank accounts, investment accounts, stocks, bonds and mutual funds
Having all real estate appraised; having all tangible personal property appraised
Paying all of the decedent’s debts and final expenses
Making sure all income and estate tax returns are...
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Life Insurance and Medicaid Planning
Many people purchase a life insurance policy as a way to ensure that their dependents are protected upon their passing. Generally speaking, there are two basic types of life insurance policies: term life and whole life insurance. With a term policy, the holder pays a monthly, or yearly, premium for the policy which will...
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Testamentary vs Inter Vivos Trusts
The world of estate planning can be complex. If you have just started your research or are in the process of setting up your estate plan, you’ve likely encountered discussions of wills and trusts. While most people have a very basic understanding of a last will and testament, trusts are often foreign concepts. Two...
8 Reasons Young People Should Write a Last Will and Testament
Imagine if writing a last will and testament were a pre-requisite to graduating from high school. The graduate walks across the stage, hands the completed will to the principal, and gets the diploma in return. It might sound strange because most 18 year olds have little in terms of assets but it’s a good...
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A Simple Will Is Not Enough
A basic last will and testament cannot accomplish every goal of estate planning; in fact, it often cannot even accomplish the most common goals. This fact often surprises people who are going through the estate planning process for the first time. In addition to a last will and testament, there are other important planning...
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Estate Planning for Unmarried Couples
Estate planning is important for everyone. We simply don’t know when something tragic could happen such as sudden death or an accident that could leave us incapacitated. With proper planning, families who are dealing with the unexpected experience fewer headaches and less expense associated with managing affairs after incapacity or administering an estate after...
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Avoid Family Feuds through Proper Estate Planning
A family feud over an inheritance is not a game and there is no prize package at the end of the show. Rather, disputes over who gets your property after your death can drag on for years and deplete your entire estate. When most people are preparing their estate plans, they execute wills and...
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How Certificates of Shares Are Passed Down
Certificates represent shares of a company. There are generally two types of company shares: those for a publicly traded company, and those for a privately held company, which is not traded on one of the stock exchanges.
Let's assume you hold the physical share certificates of a publicly held company and the shares are not...
How Much of Your Estate Will Be Left Out of Your Will? (It’s Probably More Than You Think)
You’ve hired an attorney to draft your will, inventoried all of your assets, and have given copies of important documents to your loved ones. But your estate planning shouldn’t stop there. Regardless of how well your will is drafted, if you do not take certain steps regarding your non-probate assets, you run...