If you’re going to be putting your estate plan in place soon, you obviously care about things like making sure that your assets go to those who need or can benefit from them the most and helping to ensure that your beneficiaries’ inheritances aren’t unnecessarily...
Estate Planning
2 types of powers of attorney to consider
A comprehensive estate plan provides a roadmap for your loved ones. While most people think about things that happen after their death, the estate plan also encompasses specific points about what will happen if you become incapacitated. One of the most important...
What should you consider while choosing beneficiaries?
Planning for the future involves more than just financial considerations. It is about ensuring that people pass on your legacy according to your wishes. One aspect of this process is selecting beneficiaries for your assets. This decision demands careful thought and...
Maximizing the tax benefits of charitable gifts
Giving to charity is a good thing, and you can make it even better for your taxes with some smart thinking. Here is an example: if you donate from your retirement accounts like IRAs or QRPs, you can get some significant tax benefits. Usually, these accounts get taxed...
What are pour-over wills?
However careful you are when estate planning, there is always the possibility that you may forget something. Most people review their estate plan every couple of years, and a lot can change in that length of time. Remember, your estate plan should ideally account for...
Does your business have a succession plan?
If you are running your own business, you understand the importance of planning. Still, in the busyness of day-to-day activities, you may forget to plan what will happen to your company if you die or become incapacitated. Creating a succession plan can help ensure...
Including intellectual property in your estate plan
When you think about estate planning, you usually think about distributing physical assets like real estate, cash or heirlooms. In an increasingly digital and knowledge-based economy, it is essential not to overlook intellectual property when crafting your estate...
Factors to consider when choosing a guardian for your children
Assets and finances take up a lot of focus when it comes to estate planning. While distributing assets among beneficiaries is a large part of the process, there is much more to estate planning. If you have young children, then your will can provide instructions for...
Estate planning instruments you can use to avoid probate
A will is one of the more popular estate planning methods, primarily because creating a last will and testament is relatively easy. What you may not realize, however, is that a will does not bypass the probate process. It almost guarantees it. Probate is the legal...
What positive traits should you look for in your executor?
Thinking about the end of your life and how your beneficiaries will deal with your loss may feel overwhelming or depressing at first. However, taking steps to plan for this time could help reduce the worry you feel. By looking for an executor who has positive traits...
