Introduction The belief that creating a trust only benefits the wealthy is incorrect. Today, more middle class people are creating trusts for a variety of reasons. A trust is simply an estate planning tool that allows a person to manage and distribute property in a very specific manner, either while living or after death. A […]
Category: Estate Planning
What Does an Executor of a Will Do?
If you’re like most people, you’ve probably heard the term “executor” used when talking about wills or estates. But what exactly does an executor do? The person who has this title will have an important job, the first of which is to ensure that a loved one’s wishes are respected. Read on for some more […]
Do I Need to Update My Will or Trust?
Life does not stand still and neither should your estate plan. Your life circumstances will very likely change after you have prepared your first estate plan. For instance, you may have more kids, acquire new assets, go through a divorce or legal separation, or the nature of your relationship may change with your relatives or friends named […]
7 Common Mistakes to Avoid When Writing a Will
A lot of people don’t understand how important it is to have a will. Mistakes are made all the time, even when the will is done by a professional. Here are seven common mistakes that people make in their wills and how you can avoid them. 1. Not having a will at all This one […]
Estate Planning Tools: Power of Attorney and Healthcare Proxy
No matter your age, you should have a plan in place in case you are ever unable to make financial or medical decisions on your own behalf. Even if you are in perfect health today, accidents or serious illnesses can occur at any time. Powers of attorney and healthcare proxies can help ensure a trusted […]
What is a Revocation of Power of Attorney
If you currently have an Attorney-in-fact assigned through a Power of Attorney document and wish to cancel, or revoke, this assignment, you must complete a Revocation of Power of Attorney form in order to effectuate this cancellation. The Revocation of Power of Attorney is a written, legal document used by the Grantor to cancel, or […]