Estate Planning for Single Individuals
Many people believe that Estate planning is meant only for the wealthy or those with families and children of their own, however this is simply not true. Everyone, including single individuals, should have a plan for how their assets are distributed at their death. Without a plan, you have no control. Instead,...
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How are Survivorship Life Insurance Policies Helpful in Estate Planning?
How are Survivorship Life Insurance Policies Helpful in Estate Planning?
A survivorship life insurance policy, also known as survivorship insurance, SUL insurance, second-to-die life insurance, joint life insurance, or joint survivor life insurance, will cover two people under a single policy. The policy pays out death benefits only when both people...
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Determining Who your Successor Trustee should be
Choosing a successor trustee can be one of the most important decisions you make in designing your trust because it can affect the lives of your beneficiaries for several years. While grantors often select family members, friends, or even family attorneys to be successor trustees, many factors should be considered when selecting...
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Estate Planning for a Child With Special Needs
Creating an Estate Plan for a Child with Special Needs
The phrase special needs may apply to many different kinds of learning disabilities or cognitive, physical, or behavioral issues, and a person could be born with a disability or develop one later in life because of an...
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6 Ways to Transfer a Family Business
Retirement can be a tricky subject for many business owners. While some will be eager to discuss the topic, many others may not be ready to contemplate it. When you have concerns about transferring your family business, it will always be in your best interest to ensure you are working with a...
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Estate Planning for Childless Couples
Estate Planning for Childless Couples: How to Prepare and Steps to Take
Many estate planning discussions focus on how people can pass their assets to their children, but estate planning is equally as important for people without kids. A comprehensive estate plan can protect your assets, ensure that your wishes are...
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Estate Planning for a Second Marriage
For many couples, estate planning in a first marriage can be stressful and difficult enough.
In the event of a divorce or death, estate planning for second marriages can be even harder. Why? Because a second marriage can produce different goals regarding inheritances, financial planning, long-term care, and much more.
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Consequences of Not Probating a Will
If you've been named executor of someone's estate, unless you resign, following the decedent's death, you must submit the will to the court and initiate the probate process. But what happens if you don't?
If the deceased possessed property or incurred debts, the consequences of failing to probate a will can...
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Can a trustee be removed from a trust?
Can a trustee be removed from a trust?
Trusts are one of the most critical and versatile estate planning tools. Not only do trusts enable individuals to pass on their property and financial accounts without having to go through probate, but they also can provide enhanced disability planning during their lifetime, protect assets...
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6 Common Problems with Deeds on Death, Transfer on Death Deeds, and Beneficiary Deeds
6 Common Problems with Deeds on Death, Transfer on Death Deeds, and Beneficiary Deeds
If you wish to transfer your real estate to beneficiaries at your time of death without the costly probate process or using a living trust, you should consider a deed on death, transfer on death deeds, or beneficiary deeds.
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