Meaningful Ways to Honor a Loved One Through Your Estate Plan
Incorporate meaningful ways to honor a loved one in your estate plan, reflecting their values and interests in lasting gifts.
Beware of Trust Scams: How to Identify and Avoid Them
Trusts are valuable tools in estate planning, helping individuals protect and transfer assets, sometimes in a tax-efficient manner. However, the complexity of certain trusts—often involving multiple parties, specialized legal terms, and nuanced tax regulations—can make them difficult for the average person to fully understand.
Successor Trustee Mistakes That Can Undermine Your Final Wishes
Choosing the right successor trustee is one of the most important decisions you will make when creating a trust. Your successor trustee will be responsible for managing your trust’s assets when you are no longer able to do so, whether due to incapacity or death. Selecting the wrong person can undermine your carefully laid plans and lead to family conflict, financial mismanagement, and even legal disputes.
4 Tips to Help You Avoid a Will or Trust Contest
Protect your legacy with 4 tips to help you avoid a will or trust contest. Thoughtful planning can minimize legal challenges.
What Does an Estate Planning Attorney Do? Do I Need One?
Estate planning plays a crucial role in protecting your assets and ensuring your loved ones are cared for when you’re no longer here. But when it comes to estate planning attorneys and probate attorneys, many people aren’t sure which type of lawyer they need—or if they need both.
What Can I Not Do as Trustor and Trustee of a Revocable Living Trust?
Before setting up a revocable living trust, you should understand what you can—and cannot—do in your dual role as trustor and trustee.
What Is the Difference Between a Probate Attorney and an Estate Planning Attorney?
Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation. As part of the estate planning process, you should discuss with your attorney the role they will play during your lifetime and whether they can also assist your loved ones with estate and trust administration when you pass away.
How to Choose a Trustee
When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide for your loved ones, keep accurate records, and generally keep things organized and in good order.
Five Mistakes Successor Trustees Make (and How to Prevent Them)
When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. Even the most capable, well-intentioned successor trustees can make mistakes when managing affairs, however. Here are five surprisingly common mistakes along with steps to take to prevent them from happening.
The Estate Planning Cast of Characters
What’s the role of successor trustees, professional fiduciaries, guardians, and personal representatives? What’s the difference between a health care agent and a financial agent? Read this article to learn more about these important roles.