Most of us wonder how anyone could be so callous as to cheat a senior citizen out of their life savings. Unfortunately, there are plenty of unscrupulous people who would do just that. If you have elderly parents, you likely worry about them and wonder how you can...
Estate Planning & Probate
Do you need to update your estate plan?
One of the best ways to plan for your family’s future after you pass away is to draft an estate plan. This provides guidance and instructions, telling your family what you would’ve wanted. It can address things like medical care, end-of-life care, the division of...
Preventing will contests based on mental incapacity concerns
Knowing you have a will in place can give you incredible peace of mind. Keeping it safe from a challenge or contest feels even better. A common reason for will contests is family concerns about the testator's mental soundness. This could be a particular risk if your...
What is the purpose of a trust in an estate plan?
Arguably, the most important document in an estate plan is a will. A will is a legal document that instructs your last wishes, including who is responsible for distributing your assets and who should benefit from your estate. A will is not the only document you can...
3 important tax issues to consider when planning an estate
An estate plan provides an opportunity for a testator to create a legacy. Many testators try to maximize the value of the assets that they pass to their loved ones, possibly by proactively planning for taxes, debts and other liabilities that could diminish the value...
Tips for estate planning with cryptocurrency
Estate planning with cryptocurrency involves unique challenges due to its digital nature and decentralized system. Cryptocurrencies, such as Bitcoin, Ethereum and other digital assets, require special considerations to ensure they are included in your estate plan...
I’ve made my will. What now?
The first step to planning your estate is often creating a will. A will can help decide how you would like your estate to be handled after you pass away. Once you have made your will, there may be things you still need to do. Here is what you should know: Ensure your...
Can you just leave your business to your children in your will?
Many people use this as the main or only method of transferring their wealth when they die. If you own a business, you may want to write in your will that you are leaving it to a particular person, such as your son or daughter. You can certainly use your will to do...
Don’t overlook these 2 factors in your will
A will is one of the most important documents in estate planning. You can draft a will at any stage of your adult life and you can also amend it at any point. One of the key functions of a will is to ensure that your hard-earned savings and assets go to the right...
When does a testator have the necessary capacity to draft a will?
When someone dies, those left behind often hope to spend as little time in probate court as possible. Probate court oversight can delay the distribution of assets from an estate and diminish what the estate is worth by generating court costs. The minimization of...