What happens when a beneficiary dies before estate administration?
For many executors, estate administration is quite simple. They simply file paperwork with the courts, pay off creditors and follow the instructions provided by the testator. Certain people receive specific property, and it is easy for them to manage the process. Some...
Should you discuss your estate plan with your children?
Talking about your demise is not one of the most comfortable discussions you can ever have with your loved ones. However, death is inevitable, and given that your assets and the people you care about will be impacted by your death, it is important that you hold this...
Does every adult really need their own estate plan?
Estate planning involves the creation of documents to provide for your dependents and set aside your property for different people when you die. People can also create documents that have authority while they are still alive but incapacitated, such as powers of...
Consider your digital assets in your estate plan
We live in a time when people usually do as much as they can online. Most people have accumulated many digital assets. These are sometimes worth money, but some may have more sentimental value. All of these assets should be included in the estate plan so your heirs...
How many Americans have comprehensive estate plans?
Americans need to have comprehensive estate plans, because those plans help protect them, their assets and their beneficiaries. Comprehensive estate plans aren’t simply wills or wills and a simple health care power of attorney. These plans are much more extensive and...
3 reasons you should include secondary beneficiaries in your estate plan
For many, developing an estate plan is a singular struggle. These individuals work through the process and file the set of documents away, never to be reviewed or revised. Unfortunately, these people could overlook a factor that might potentially lead to unnecessary...
If an estate has debt, do heirs need to pay?
Ideally speaking, heirs will find that the estate left behind by a deceased parent is going to contain more assets than debts. There are always going to be some debts, even if they're just minor credit card debts for daily purchases, but it will generally not be...
How can working with a Certified Financial Planner lead to a solid estate plan?
Successful adults will always need assistance with the creation of a retirement plan and an estate plan. A surprising number of people don't understand the importance of financial review in the estate planning process. They may work with a financial professional when...
4 serious mistakes people make with when choosing an executor
Proper estate planning is critical to your family’s future stability. That’s one reason why it’s one of the most loving actions someone can take. That means there’s a lot riding on the shoulders of the executor you choose to manage your estate. However, too many...
The estate planning documents even college students need
Even young, college-attending adults should understand estate planning and the need to have certain documents in place in case something happens to them while on campus. What if you are in a car accident, leading into a coma? What happens if you can no longer take...