In the event of your death, a will addresses who will inherit your assets and properties according to your wishes. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution, your executor…
A spouse's death is a life-changing experience emotionally, spiritually, and often financially. It is common for one spouse to handle family tax and estate plans, and a widow(er) may be looking at a complex financial situation with more questions than…
In the United States, probate is the process by which a will is formally acknowledged, and a personal representative (executor) is named to administer the estate. Navigating the probate process will vary according to state law. Therefore, it is good…
As your mental capacity decreases and your health declines, it can become more difficult for you to make sound financial and healthcare decisions. Putting these five must-have legal documents in place before life becomes too difficult to handle is crucial…
Even though probate carries a stigma of having a bad reputation, thoughtful estate planning can minimize or avoid it. In reality, most heirs will have to navigate the probate process to some degree after losing a loved one. Understanding what…
Generation Xers are entering their 40s and 50s at a time when retirement planning should be a priority. There are many things to consider, including finances, investments, insurance policies, legal documents, living arrangements, and healthcare. It is advisable to make…
Throughout probate, a will is formalized, a personal representative is appointed to administer the estate, and assets are distributed to intended beneficiaries. It also requires paying the decedent’s outstanding debts and federal and state taxes. Each state has different laws…
In most cases, people's lives follow predictable patterns. Your concerns are probably different at 60 than they were at 40. You may be looking at retiring soon, considering the potential for needing long-term care, or leaving your assets to the…
A power of attorney is important when planning for the possibility of becoming incapacitated and needing a trusted agent to manage your affairs. These legal documents can grant broad authority to one or more power of attorney agents to transact…
Advanced Directives are legal documents that guide medical and health care decisions for patients who are incapacitated and cannot decide for themselves. Advance directives, sometimes called "living wills," protect individuals in the event that they are unable to make decisions…