It can be hard to imagine, but if you can, think about your life when you are much older. Picture yourself as a 70- or 75-year-old person and trying to do all of the things that you do today. Some of those things won't be possible anymore, and others still, though...
It's not easy to watch someone you love or care about slip into a state where they are no longer able to perform basic tasks or even make decisions for themselves. These cases can arise when someone suffers from a physical or mental disability, or a serious medical...
In our last post, we began a two-part discussion of probate: what it is, how it works and what you can expect if you are involved in the probate process. We also mentioned that probate can lead to some financial costs and fees, which naturally leads to this question...
Many people know about estate plans, and they've probably heard the phrase "probate" thrown out into a conversation before -- but they may not know what that important phrase means.Probate is simply the legal process involved when fulfilling the last wishes of a...
When people think about estate plans, they probably think about an older person organizing and structuring their estate plan. The older person may even be close to death. The point is that most people think of estate plans as "something that older people do." If you...
In the second installment of our three-part series on wills, we talked about changes in your will (and your life). Your will is a constantly evolving document, but in order to make this evolution happen, you have to remain organized and make the necessary changes to...
In our last post on the subject of wills, we talked about revoking a will. This is an important step for many people out there who are looking to create a new will or want to change their will -- which leads in to today's subject.Altering a will is another very...
In estate planning, the will is one of the most important documents involved in the plan. Any person should that holds assets or has any amount of wealth should consider drafting a will. Once that will is drafted, though, you shouldn't think that you're set for the...
The decision specifically affects an estate-planning tool called an intentionally defective irrevocable trust (IDIT). This trust allows an individual to exclude trust assets from his or her estate for estate tax purposes. The creator of this type of trust (grantor)...
Probate describes the legal process used to transfer title to your assets – a home, cabin or vehicle – either through a will or in accordance with the law. All wills (testate estates) need to go through probate, but the complexity and degree of court involvement...
