Estate planning, often associated with later life stages, might seem premature for college students. However, life's unpredictability does not exempt younger adults, making estate planning an important consideration even at this early stage of life. The following are...
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6 kinds of trusts
To avoid probate, estate taxes and disputes, a trust can be added to an estate plan. A trust allows a grantor to entrust assets to a trustee who is responsible for managing the assets until they are distributed to beneficiaries. There are many different kinds of...
Why investors are converting office space to residential units
Real estate markets constantly fluctuate, and investors need to be ready to pivot if they hope to maximize the profit-generating potential of their capital. When someone buys property, when they sell it and how they utilize it while owning it can all affect the return...
Is there a downside to making a trust very specific?
If you are writing a trust as part of your estate plan, you may be thinking about making it very specific, so that it accomplishes a certain goal. For instance, say that you went to college when you were younger and you feel that it was a transformative experience....
Is it time to update your estate plan?
If you have an estate plan in place, then you are further along than most people. Over half of all Americans have yet to address this issue. If you have a plan, remember that estate planning is a constant process, and your plan should reflect your current wishes....
Examples of will fraud
A will is a crucial component of any estate plan. This document outlines the final wishes of the testator. For example, the testator may wish to leave their house to the children in equal parts. For a will to be valid, it must accurately reflect the wishes of the...
What makes a good executor?
Stating your wishes on how to be taken care of when you become incapacitated or how to distribute your estate when you die makes estate planning an essential process for everyone. But the party you name as your executor plays an integral role in attaining this. You...
Can a joint tax return lead to tax charges for both spouses?
When people get married, they usually combine their finances. They begin living together and may use one checking account for all major household expenses. It is common for one spouse to manage most of the financial matters for the family. Allowing one individual to...
How can you pass assets to charities of your choice?
Many people have causes that they want to support. While they can do that while they’re alive, some are fortunate enough to be able to continue to support those charities after they die. There are several ways that a person can make this happen. It is critical to...
Is it typical to talk to the people included in your estate plan?
After you’ve made your estate plan, you may be wondering if you should talk to anyone about your decisions. While some people talk about their estate plans, many people keep their personal matters private. That doesn’t necessarily mean it’s a bad thing to talk to...