A large part of the estate planning process involves choosing who you would like to inherit your assets. Often, items of monetary value take focus, and sentimental items are neglected. Nonetheless, it’s important to address sentimental items when making plans for...
Estate Planning
Can heirs struggle with inheriting a lot of wealth?
In a world where wealth and prosperity are often celebrated, one might assume that inheriting a significant fortune is a blessing beyond measure. However, the reality can be far more complex than it appears at first glance. Below are the intricacies of inheriting...
Approaching retirement means revisiting your estate plan
Reaching retirement is a big milestone in life and one that should be celebrated. You’re probably looking forward to finally having the time to spend doing all the things you love and getting some well-needed rest and relaxation. Planning for retirement, however, can...
How to talk to your parents about estate planning
The older you get, the more you wish and can help your parents with complex matters, such as estate planning. While it can be unusual, it's beneficial to know if your parents have drafted crucial documents for their estate plan. However, you need to approach the...
3 things to consider when choosing a guardian for your kids
One of the reasons for starting estate planning earlier is kids. When you get a child, you will want to protect them in all circumstances, even when you become incapacitated or die. Guardianship designation is one of the documents you will have in your plan. Before...
What is a statutory will?
The best way to form the foundation of a sound estate plan is by creating your final will. With it, you can express your wishes for dividing estate assets among your loved ones. Once you have it in place, you can continue to build your plan until it meets your needs....
Importance of establishing an advanced health care directive
If you are like most people, thinking about what may happen if you are incapacitated or at the end of your life isn’t something you enjoy. However, as a responsible adult, it’s something you shouldn’t avoid. Part of end-of-life planning is establishing an advanced...
Are there limits to what your will can do?
Having a will as part of your estate plan is the responsible thing to do. With a will, you have ensured your wishes are followed regarding your assets, guardianship of your children and more. It’s worth noting, though, that a will isn’t an estate plan. In fact, it’s...
How can the death of others affect your estate plan?
Your estate plan focuses on what happens when you die. It also serves other purposes, such as looking after you if you fall into ill health, but your death is typically the main focus. You cannot predict when you will die, so it is essential to get an estate plan made...
4 things to update in your estate plan after a divorce
Divorce is one of those significant life events where you need to update your estate plan. You should revise it every year or so anyway. But births and deaths, marriages and divorce may require more significant changes. Here are four things to consider: Powers of...