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...
Estate plans and the Build Back Better Act
The Build Back Better Act is moving through Congress, and it could very well be signed into law by the end of the year. Understanding what this could mean for your estate plan is important, whether you’ve already a plan in place or haven’t yet started. Key changes...
Can your estate plan benefit from a “Titanic clause?”
One of the reasons that too many people put off setting up an estate plan is that it requires them to contemplate their own death. If you and your spouse are beginning to work on your estate plan, it’s crucial to consider that you could potentially die at the same...
What attributes should you avoid when picking your estate’s executor?
Glance through any estate planning guide, and you'll see plenty of information about what attributes a good executor should have, including things like trustworthiness, intelligence and organizational skills. But what attributes automatically make someone a poor...
Should you discuss estate planning with your aging parents?
No one wants to have a conversation about death and inheritance with their loved ones. However, this is one conversation that should happen. Making sure that your parents have an estate plan in place is quite important. If they do not, it could complicate your future...
Can you use your estate plan to promote education?
You have always valued education. You passed that view on to your children, and you hope that your grandchildren will have the same love of learning. You know that the world can be improved dramatically with increased education, and you’re doing your part. As you set...