Navigating estate planning can feel like traversing a complex landscape, with two essential landmarks looming large: the trust and the will. These two instruments, while both integral to crafting a comprehensive estate plan, serve distinct purposes and operate under differing…
When you’ve created an estate plan, it’s important to notify certain individuals and entities to ensure that your wishes are carried out smoothly. Here’s a list of who you should consider notifying: Immediate Family Members: Inform your spouse, children, and…
A will is a legal document that outlines a person’s wishes regarding the distribution of their assets and the care of any dependents after their death. In a will, the individual, known as the testator, can specify how they…
Many people think having a Will is enough to protect their assets, but a Will is best used as a last resort rather than your primary plan. It’s important to protect your assets for your legacy – and it’s…
A power of attorney enables someone to deal with aspects of your life such as finances or health care planning. A durable power of attorney often becomes effective when you become incapacitated because of an accident or illness. Keeping a…
You should start thinking about estate planning as soon as you have assets or dependents that you want to protect and ensure are distributed according to your wishes after your passing. While there isn’t a specific age at which…
You must know that planning your estate at the right time is very crucial, irrespective of the asset size. But having a clear plan for your estate will not serve the purpose. So you need to have a proper…
We must first understand what a Medical Power of Attorney (MPA) and a Living Will are. A Living Will is a statement that lists what you want and don’t want if you become incapacitated in the future. This…
Transferring Assets to Trust: Steps on Moving Assets Into Trust Trusts have become increasingly popular these days. It’s mainly because they are the most effective way to transfer all the assets without going through the probate court. They are…
We all know, there are two types of trusts: Irrevocable and Revocable. People prefer Revocable Trust because it can be modified by the Grantor anywhere and anytime. Revocable Trusts are used to ensure that a Probate Process case is not…
