This is common. We all know we will die at some point—but not many of us enjoy thinking about the topic. So, there is an inherent hesitation built in when it comes time to learn about estate planning and make choices related to this. As a starting point, it is helpful to know, or at [...]
There is no “right” time, so long as you implement a plan while you are still living and of sound mind. Generally, we find that people become motivated to plan their estates when major life events occur, such as: Getting married Having children Getting divorced Dealing with the aftermath of a parent’s death Dealing with [...]
There are many legal mechanisms to help those who die or become incapacitated without having planned ahead. However, many of these mechanisms are so inflexible and time-consuming that they inspire people to plan around them. For example, a person who dies without a will is considered to have died intestate. This means that his or [...]
Virtually every estate plan consists of a will, a general power of attorney, and a healthcare power of attorney. Many plans also incorporate a revocable trust. Some include irrevocable trusts, agreements of various kinds, deeds, and other documents.
No. A will is only one small part of an estate plan. Different assets pass in different ways, and not all of them are affected by a will. Also, a thorough estate plan includes planning for your incapacity, as well as your death. Lastly, the true value in estate planning comes from the thought and [...]
Estate planning is the process of planning for the management and distribution of your assets in the event of your death or incapacity. This process often involves consulting with an attorney to design an estate plan that conforms to your wishes, and then formalizing your estate plan in a series of documents based on your [...]