Will and Estate Articles

A will or testament is a legal document, which allows you to communicate your wishes and dictate what happens to your estate when you pass away. A will includes a list of all investments you have made including real estate, business, securities and more. Your estate consists of all assets in your name only, with no provision for others to own it. Your will names an executor who carries out the directions of the will after your passing. A will typically also includes advanced medical directives that allows another person to make medical decisions on your behalf if you are incapable.

6 Mistakes That Can Invalidate Your Will No Comments

For many people, writing a will is an emotional task, one that they just want to get done as quickly as possible so they can get back to the important business of living. Determining who should receive your assets after your death is just as important though, but all too often, people make mistakes that invalidate…

Five Important Reasons to Write a Will No Comments

If you’re like most people, you haven’t thought about writing a will. Sure, you’re sometimes reminded of wills when you’re reading a mystery novel or watching a crime drama, but what do they have to do with you? If you haven’t thought of a will in connection with your own life and circumstances you are in the majority. However, writing a will offers some real benefits for…

What are Advance Medical Directives? No Comments

Advance medical directives refer to legal documents that give instructions or wishes of an individual in the event that they are no longer able to “speak for themselves.” Depending on the state you live in, advance medical directives may consist of one or more of three legal documents: a living will, a health care proxy and/or power of attorney(s). The US Supreme Court it…

How to Choose an Executor for Your Estate No Comments

During your estate planning process, you will ultimately get to the point where you need to pick an executor for your estate. The executor is the individual who will manage the affairs of your estate and ensure that your estate plan is implemented properly, in the way that you intended. Picking an executor is not an easy decision, as there are many requirements for a…

What is Power of Attorney and How to Assign it No Comments

Power of attorney is the legal authority assigned to a person designated as an “agent” by a power of attorney document. This legal authority allows the “agent” or “attorney-in-fact” to make legal, business and even medical decisions on a “principal’s” behalf. Power of attorney is used in circumstances when a principal needs someone to make important decisions for their…

5 Events When You Should Write a Will No Comments

It may not be the most pleasant task to consider, but it is always an important one. A will can mean the difference between whether or not your loved ones will receive any of your money, valuables, or other possessions after you die. Long life is never guaranteed, and it is your job to make sure your loved ones can tend to your funerary expenses. It is also your way of…

What is a Trust and Why You Should Have One No Comments

A trust is a document that sets up very specific rules about how property and assets that have been put into the trust are to be distributed and managed. Setting up a trust is not sufficient – you must fund the trust as well. This simply means that things need placed in your trust to make it useful. For example, life insurance policies, retirement accounts and property…

What Should Your Estate Plan Cover? No Comments

Did you know that you have estate? Everyone does. It consists of everything you own, including life insurance policies. It doesn’t matter how much or how little you have, everyone has estate and everyone should be concerned with what happens to it when they die. Our own mortality isn’t something many people like to talk or think about. Unfortunately, two things in life are…

What Does the Executor of an Estate do? No Comments

An executor of an estate has several obligations for managing and closing an estate, and the role can be time consuming depending on the size of the estate. The executor has the job of protecting the assets of the estate until they are distributed to the specific beneficiaries that the estate owner intended. Executors also have the responsibility of making sure that debts…