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estate planning Archives

Know about different types of trusts you might utilize

One way that you can work to care for your loved ones after you pass away is to establish and fund trusts for them. When you do this, you place assets in the trusts and a trustee cares for the assets with the purpose of using them for the benefit of the recipient. If you opt to do this, there are some special considerations that you need to think about from the start.

Know the purposes of various estate plan tools

Your estate plan can make life a lot easier for your loved ones when you are gone. You might not find this something that is easy to think about, but if you think about these points now, your family members will be able to focus more on grieving after they lose you.

Know the components of an estate plan

Estate planning is important for all adults, but when you have a business to think about or considerable assets, you have to take the time to ensure that your estate plan clearly conveys your wishes. There are several tools that you can use to create an estate plan that shows what you want to happen. We can help you to go through the different options that you have so that you can choose the ones that you feel are best for your situation.

Tips for executors distributing the assets from an estate

One of the duties of an executor is to distribute the assets of an estate. How complex of a job this turns out to be depends on a number of factors, such as how big the estate is, how many assets there are and how many heirs are supposed to inherit those assets.

How estate planning relates to residential real estate purchases

We know when you're buying a new home, you've already got a lot of things on your mind. The last thing you might want to deal with is more paperwork and more decision-making, but there are a few benefits to considering some estate planning matters as you go through with any residential real estate purchase.

Probate troubles can pale compared to family litigation woes

We've often written on the topic of probate and how you might keep certain assets out of this legal process. In reality, probate isn't the green-eyed monster that wants to gobble up your hard-won wealth. In fact, in most cases, probate is simply a formal proceeding that ensures your estate is adjudicated according to both the laws of your state and the provisions you set forth in any estate planning documents.

Can you protect business assets with estate planning?

You can protect all types of assets with the right estate planning, but how you go about securing those assets depends on a variety of factors. You'll need to know who you want to pass on assets to, what your goals for retirement and legacy are and what type of access you might need to your assets in the future. By working with an experienced business law and estate attorney, you can put these goals into action via a will, trusts and other estate planning tools.

Should you list every asset in your will?

Many individuals may have certain items they consider priceless due to sentimental value rather than monetary worth. In many cases, these items come as the source of conflict when surviving family members begin seeking parts of a recently-deceased loved one's estate. Therefore, while creating your estate plans, you may wish to consider steps that could potentially allow you to help your family avoid such conflicts.

An estate plan is more than who gets what when you die

When you create your estate plan, there are several things that you have to think about. Most people think that the estate plan is simply noting who will get what in a way that is unmistakable and in accordance with state laws. This isn't the case. You also have to think about your living will and power of attorney for health care. This document can have a significant impact on you and your final days, so you must be very careful with how you handle it.

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