In our last post, we talked about updating your will and why it is crucial to make frequent updates to this document. In the absence of proper updates, this document will not accurately reflect how you feel about your estate and it won't be executed in the way that you would have wanted it to.
Your will is one of the most critical documents that you will ever create. It will dictate how your estate is executed and managed. Of course there will be other documents to supplement your estate plan -- but the will is very important. However, some people simply create their will, leave it in a secure place, give a copy to their attorney, and then just forget about it.
Once you create an estate plan, you'll feel like the weight of the world has been removed from your shoulders. This relief makes it much easier to look toward the future with a clear mind.
Many people assume that they don't need to create an estate plan. They believe that their assets will automatically go to their spouse or children upon their death.
You've heard many times that it's important to have a will. Why is it so important, though? Won't your spouse automatically receive your assets if you pass away?
Charitable giving is a gratifying practice. Unfortunately, charitable giving is rarely urgent, and it can get lost amid the day-to-day demands on your time.
Wills and living trusts are vital estate planning tools for all adults, but 58 percent of American adults say they do not have a will or living trust, according to a recent survey.
Individuals who possess small- to medium-sized trusts face an important decision: should I designate a family member to serve as the trustee?