Federal estate taxes are for those with very high-valued estates. Anyone who has significant assets should plan ahead to pay these taxes. The IRS handles the collection and sets the rules for how to value your estate, which will let you know if you will have to pay....
When you die, you need to have some way to allow those left behind to take legal possession of your assets. Most people will create a will or estate plan to handle this task. However, it is also common for people not to plan ahead. If you die before you create a will...
A carefully crafted and effective estate plan should reflect the testator's goals and their family's needs. Thus, no two estate plans in Charlotte are exactly alike. Still, given how official and somewhat dry the language in your will, trust and other estate planning...
As people age, it is normal for them to begin to take their estate plans more seriously. Many people involve their families in their estate planning process. Involving the family can help everyone understand what to expect when a loved one passes. If you have an aging...
Agreeing to be the executor of an estate is a big commitment and one that requires forethought. Overseeing the closure of someone's estate is not something you should take lightly. Taking your time to consider the obligations and whether you have the flexibility to...
You are not alone if you have children but no estate plan. Many people wrongfully believe that only wealthy people require an estate plan, but in reality, estate plans are for everyone. Without an estate plan, your children's future becomes less certain. In the U.S.,...
An estate executor has important responsibilities to accomplish including selling assets and settling debts. The person you assign to this role will handle your financial affairs and have access to confidential information. Take your time deciding who you want to be...
Most people do not worry about their estate plans until they age. However, at this point, you may be in your second marriage, and you and your spouse may have children from previous marriages. This can make estate planning tricky because you want to leave assets for...
Choosing an executor is a critical part of estate planning and one that requires time and thought. The person you select should have adequate availability to oversee the many responsibilities of the role. As part of your effort to inform your executor, you may wonder...
When you hear the word "heirs," you most likely think of close family or friends. However, you can also name charitable organizations as beneficiaries of your estate plan. Gifting your money to such entities can have considerable benefits for you, as well as the...
