Retirement is an ideal time to update your estate plan. Not only will you have more free time on your hands to do it, but you are entering a new phase of your life where your priorities may change. What updates should you make to your estate plan? Here are some of the...
Month: September 2020
How to repair a broken trust
There are two main categories of trusts. Revocable and irrevocable. Revocable trusts allow the person that creates it, known as the grantor or settlor, to make changes or cancel the trust. Irrevocable trusts offer certain extra benefits in exchange for sacrificing...
Debt is an inheritance your children won’t thank you for
When creating an estate plan, it is crucial to look at your entire financial situation. You need to consider your debts, not only your assets. If you die before you can pay off your debts, it will have implications for your family. What happens to debt when you die?...
Include pieces of art in an estate plan
When creating an estate plan, you must include all the assets you own. If you forget to include items, it could delay the distribution of your estate and lead to conflict among family members over who gets those items. One of the assets that people often overlook is...