When creating an estate plan, one important task is to choose an estate executor or an estate administrator. This is the person who will make sure that your estate plan is actually followed and carry out important tasks like paying debts, inventorying assets and...
Estate Planning
Potential benefits of a POD account
On Behalf of Newman Law Group | Feb 12, 2025 | Estate Planning
A payable-on-death (POD) account is something that you may want to consider as you create your estate plan. Essentially, you can use this paperwork to assign a beneficiary to one of your financial accounts. It then becomes a payable-on-death account because that...
When should you start business succession planning?
On Behalf of Newman Law Group | Jan 30, 2025 | Estate Planning
Business succession planning is what you do when you are preparing to pass your company on to the next generation. This shouldn’t be a spur-of-the-moment decision, such as deciding to retire and handing your business over within the span of a week. It’s something you...
Are there alternatives to disinheriting someone?
On Behalf of Newman Law Group | Jan 30, 2025 | Estate Planning
Disinheriting someone means not leaving them any assets in the estate plan when they otherwise would have inherited. For instance, you may have two adult children, and they assume that your estate will be split between them. However, you have the option to leave...
Estate asset distribution isn’t required to be equal
On Behalf of Newman Law Group | Jan 18, 2025 | Estate Planning
It is most common for parents to create estate plans with roughly equal bequests. For instance, they may divide financial assets equally among their adult children or leave property—like a vacation home—to all of them jointly, making them co-owners. However, it’s...
Have you thought about an ethical will?
On Behalf of Newman Law Group | Jan 2, 2025 | Estate Planning
While estate planning is largely about assets, there is much more to it than this. Once you pass on, you probably want to leave more than assets behind. What about life lessons and values? How can these be passed on? One answer is by drafting an ethical will. What...
How to plan for end-of-life care
by [email protected] | Dec 11, 2024 | Estate Planning, Powers of Attorney
No one wants to think about their own passing, but if you want to have control over your last days, planning for end-of-life care is essential. Regardless of your health status right now, a solid plan can give you peace of mind, protect your last wishes from...
Can your final wishes on a napkin hold up in court?
by [email protected] | Nov 25, 2024 | Estate Planning, Wills
Movies often portray dramatic deathbed scenes where hastily written wills determine the fate of fortunes. This romanticized image might lead you to believe that any scribbled note can dictate your final wishes. But the reality of legal proceedings is far less...
Choosing an executor? Here are some traits to look for
On Behalf of [email protected] | Nov 18, 2024 | Estate Planning
Selecting an executor for your estate demands careful consideration. This individual will manage your assets, pay debts, and distribute property according to your wishes after your death. Executors carry hefty responsibilities. Their tasks could become even more...
Estate planning steps to take when you have a terminal illness
On Behalf of Newman Law Group | Oct 22, 2024 | Estate Planning
Facing a terminal illness is devastating. It can be hard to focus on anything other than your condition, but taking proactive estate planning steps can bring peace of mind. Here are some essential steps to consider after receiving a terminal diagnosis. Review and...
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