Executors have a lot on their plate when it comes to managing an estate plan. For this reason among others, it is crucial for executors to have select traits that make them more suited for the job. But what are these traits? What exactly makes a good executor in the...
Trusts
Benefits of estate planning for young adults
Young adults often avoid an early start on estate planning for several reasons. They might think a will or making a retirement plan can wait until they are in their thirties or forties. In reality, early estate planning for young people has many benefits. Protecting...
Do you really need a living will?
Estate plans protect your family after you are gone. They also make sure that your assets receive the proper treatment in terms of inheritances. When it comes to advance directives, also known as living wills, they can ensure you receive the type of medical care you...
Is a relative the best choice for executor?
When you start working on your estate plan, one of the first things you must decide is who you want serving as the executor of your estate. This is a pivotal role and the person you select must fit certain criteria. Naturally, you may lean toward a trusted relative...
Signs that you need a will
At its most basic, a will directs the distribution of certain property at the time of your death. Most people know that a will belongs on a shortlist of essential documents for estate planning. However, you might not know what factors make it beneficial to have a...
Choosing guardians and trustees for your child
A fiduciary is someone who acts on behalf of another in legal matters. When you are estate planning as the parents of minors, it is important to find fiduciaries who are both qualified and willing to act in your child's interests in the event that you both die....
Choosing a trustee for a special needs trust
The safest way to create financial stability for a loved one with special needs is to establish a special needs trust. The beneficiary has access to lifelong funding and remains eligible for benefits when managed properly. A crucial step in creating this trust is...
What is a living will?
When it comes to estate planning, every person should have a reliable plan in place, regardless of their age or financial status. Living wills are one essential part of estate planning that can benefit you while you are still alive. Living wills contain directives on...
Do your parents need at-home care?
As parents begin to age, it will likely become more notable that average, daily things get harder and harder to do. Maintaining an entire house and living independently can both grow increasingly difficult with time. However, you do not need to send your parents to a...
Do you need a healthcare proxy in your 20s?
When you cannot make your own medical decisions because of an illness or injury, a healthcare proxy will determine what happens. This document gives power to an individual who can then make these important choices on your behalf. Of course, it makes sense that older...
