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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...
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...
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...
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...
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...
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...
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...
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...
While irrevocable trusts can be powerful estate planning tools, they come with certain drawbacks that should be carefully considered. Understanding the risks can lead to an informed decision about whether an irrevocable trust is right for your situation. If you are...
Have you ever stopped to consider how much of your life is spent online? In 1994, there were about 3,000 websites compared to the 1.1 billion 30 years later. The internet has revolutionized the way we live, so it should also revolutionize the way we approach estate...
