For many Americans who procrastinate about creating a will, the reasoning often comes down to one of two main issues. They either don’t think they need one because their estate is too small, or they’re just leery of paying an attorney to do the work. The first reason is common, since roughly half of us seem to question the need for estate planning. That second reason is perfectly understandable, especially in uncertain economic times. Nevertheless, we all need some sort of estate plan, and … [Read more...] about Why You Need an Attorney to Create a Will the Right Way
While financial planning can help you to build wealth over time, through the wise management of your resources, and retirement planning focuses on directing a portion of today’s income and assets toward tomorrow’s needs, your estate plan must to bring these strategies together in a comprehensive way. A well thought out estate plan can preserve and distribute the wealth, you have worked so hard to accumulate, to the next generation and beyond. Everything doesn’t work out automatically You may … [Read more...] about Charlotte Residents Can Benefit From Early Estate Planning
You may believe that a last Will is your best option for transferring your assets on death because you are not wealthy. But in many cases you have more effective options for distributing your assets to your loved ones even if you do not consider yourself to be among the financial elite. A lot of people do not realized that a Will is not just read by your family members. The court has to make sure the wills is in fact the last one and is valid; and the court has to allow creditors an … [Read more...] about Last Will May Not Be Best Option
There are a number of reasons why it is not a good idea to depend on online downloads or worksheets to create a do-it-yourself estate plan. One of them is the possibility of providing an opening for a successful challenge to your last will. There are essentially four different grounds for invalidating a last will. One of them is improper execution. Each state has certain laws regarding how a last will should be executed. When you use a so-called "one-size-fits-all" document you have no way of … [Read more...] about How Can Will Challenges Be Successful?
There is nothing wrong with looking for simple solutions. Why make things more complicated than they have to be? In fact, even in science and math it is widely accepted that the simplest solution is generally the most elegant and therefore the best one. With this in mind you may see the value in looking for simple solutions when you are planning your estate. This makes a lot of sense, and because the last will is the most commonly understood estate planning document, you may think that this is … [Read more...] about Is A Last Will Really The Simple Solution?
It can be difficult to get people to recognize how important it is to commit their final wishes to writing in one form or another. But if you are ready to finally put the procrastination behind you, gaining an understanding of estate administration details is part of the process. Assuming you are using a Last Will to direct the transfer of assets to your heirs, the estate will be subject to the probate process. During this time the probate court supervises the administration of the estate. The … [Read more...] about A Look At Estate Administration
There are some rudimentary estate planning documents that can be a bit confusing if you haven't seen them before and we would like to take a look at them here to clarify them. The last will is a document that everyone understands as used to transfer assets. However, there are other wills used in the field of estate planning and one of these is the living will. Living wills are highly recommended to anyone who wants to have a comprehensive plan for aging in place, but they have nothing to do … [Read more...] about Estate Planning: Clarifying The Basics
When creating your will, you’re forced to make important decisions. This includes deciding on a guardian for your minor children in the event something happens to you. If you have minor children, you'll want to take extra care to make sure that they’re always loved and protected. You need to make sure that you guardian selection is not only the best fit possible, but that the individual is able to handle all of the responsibilities associated with the job. Consider the following … [Read more...] about The Importance of Discussing Guardian Selection before Creating Your Will
We all know what a Will is: a person states his wishes for who gets what when he or she passes away. Having a Will is, of course, is better than not having one … but it may be nowhere near as beneficial to you as creating an Estate Plan. Here are some very basic facts about Wills vs. other legal Estate Planning tools that are available to individuals and couples who want to leave as much as possible to their loved ones: A Will becomes a public document when a person passes, and it is subject … [Read more...] about A Will Alone vs. An Estate Plan: Why, When, How?
When creating your estate plan, you will need to appoint a guardian for the care of your minor child. This will allow you to make sure that your child is always cared for, loved, and protected. If you’re having trouble making this difficult decision, take a look at some of the information below. This will help you carefully consider your options. If you have any questions about choosing a guardian, or if you’re ready to discuss your estate planning needs, meet with an estate planning … [Read more...] about How to Choose a Guardian for Your Minor Child