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A key decision when preparing a will is the designation of an executor. The executor is the person you select to oversee the provisions of your will after you pass. This is the person designated to make sure the directives you place in a will are carried out. Because of the importance of this position, there are a number of factors you must consider when selecting an executor for your will. A Person You Trust A fundamental consideration is selecting someone you trust to serve in this capacity. You need to select a person that you are confident will carry out your wishes and not act in a...
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Estate planning is not a one-time endeavor. Rather, in order for estate planning to be meaningful and appropriately effective, it must be undertaken as an ongoing process. There are a number of factors to bear in mind when it comes to keeping and estate plan current and updating estate plan. Estate Planning is for Everyone Before diving into the specifics of updating estate plan, it is important to understand that estate planning really is for virtually every adult. There may exist a few exceptions to this rule, but generally speaking all adults must take a look at developing an...
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Estate planning is crucial. One estate planning vehicle worth considering is a revocable living trust. The first step in the process of determining whether establishing a revocable living trust is the proper course is understanding the essential elements of this type of trust. Three Primary Reasons for Establishing a Revocable Living Trust The reasons a person may need a revocable living trust are unique to his or her situation. However, there are three primary, common reasons why an individual may desire to establish a revocable living trust. The first primary reason to establish a...
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