Estate planning is an area of law where people can easily get confused and overwhelmed. Add to this the fact that it can involve uncomfortable subject matter, and it can prove to be a much more challenging process than people anticipate. However, all this is not to say you should ignore or minimize the importance of having a comprehensive estate plan in place.
3 critical mistakes to avoid when setting up a trust
Don't forget to update your estate plan after divorce
Divorce is a major life event that roughly half of married couples will experience at some point. And whether the divorce is amicable or contentious, it will typically have a considerable impact on a person's future.
Who will take care of my pet when I die?
For many people, a pet is more than just an animal. A pet can be a cherished friend and a beloved member of the family. But what would happen to your pet after you pass away? Would a family member adopt him, or would he end up in a shelter?
How long does probate take?
When someone passes away, his or her estate will generally go through probate. This process legitimizes the person's will (if there is one) and distributes the assets and liabilities of the estate.
Failure to plan a big mistake for big families, big estates
We often discuss the fact that estate planning is not something reserved for the ultra wealthy. Every person can benefit from having estate planning documents in place.
A plan for Fido: pet trusts and estate planning
Estate planning is incredibly important for those with significant assets. The families left behind after the death of a loved one can take some comfort in financial security and be safeguarded from tax burdens.
