When a loved one who never wanted to talk about their eventual death – let alone any kind of estate planning – passes away, family members don’t often expect to find a will. Sometimes there is none. That’s when intestacy laws take over. Other times, they find multiple...
Resilience And Strength
Estate Planning
3 benefits of an estate planning discussion
While making an estate plan is a deeply personal matter, it will likely affect several other people. Therefore, it may be wise to talk to some of them about your plans when you make them -- or at least shortly afterward. Here are three reasons that discussions with...
3 different types of trusts for your estate plan
A revocable trust is one of the most common trusts people use for asset protection when creating an estate plan. A revocable trust can allow a person to distribute assets to beneficiaries. The person who makes the revocable trust can alter or revoke the trust at any...
The role of incapacitation with a power of attorney
As you make your estate plan, one important tool to consider is a power of attorney. In the future, you may not be able to make certain decisions or take specific actions on your own behalf, and you need someone to do so for you. You can choose this person with a...
Guardian of the person vs. guardian of the estate
A guardianship gives one person the ability to make decisions on another person’s behalf. It typically has to be issued with a court order because this means that the person who is placed in the guardianship loses some of their rights. But when a guardianship is used,...
Add a spendthrift trust to your estate plan
While parents and doting grandparents may love all their heirs equally, that doesn’t mean that they all have the same strengths and weaknesses. That’s why some estate planners add some restrictions and boundaries into the legacies they bequeath. One useful vehicle for...
How creating an estate plan now can prevent disputes between loved ones
Life always has a way of moving quickly, and it’s natural to put off planning for the future. It’s natural to think there will always be more time, yet the truth is that tomorrow isn’t promised. For families, the passing of a loved one is already an emotional and...
Do family members inherit debt?
Family members often inherit assets when someone passes away. For instance, adult children may be named as beneficiaries for bank accounts, real estate and more. The will and estate plan help to show how these assets should be handled and divided among the family. ...
3 common sources of family conflict during estate administration
When a loved one passes away, the grieving process can be complicated by another emotionally charged ordeal: estate administration. This period is meant to help ensure the deceased’s wishes are honored. However, it often becomes a breeding ground for family tension. ...
When should you update your estate plan?
Updating your estate plan is a very important part of the process. You need to conduct reviews and determine when updates are necessary. There’s always a chance that you could review the plan and find that it still works—but you at least need to consider it...

