Estate planning is one of the most difficult aspects of personal finance. As humans, we tend to procrastinate on dealing with our own mortality and often focus on seemingly more important issues facing us today. However, estate plans play a significant role in reducing frustration for loved ones, especially in the digital age. While most people realize that estate plans should be created to help distribute physical property such as real estate or jewelry, there is a growing need to consider intangible property.
Posts Tagged: Probate
Some sobering thoughts from the Great White North.
Keep? Sell? Toss? These three options are ammo for the battle when clearing the family home after a parent leaves it.
As we spend more of our lives online — banking, collecting credit card rewards points, playing virtual reality games, creating photo albums, emailing, tweeting — it’s increasingly important to consider how beneficiaries can access those accounts and any assets they hold, once we’re gone.
The only time your Will would control who gets your IRA is if your estate is the beneficiary. You should think twice before naming your estate as the beneficiary of your IRA.
Something odd happened a few weeks after James Gandolfini died. The discussion shifted from shock and surprise at his death, to his will, which, unlike the wills of most wealthy people, quickly became public. Almost immediately, many experts found fault with its contents, saying it was so unwisely constructed it could lead to lawsuits from his heirs.
Trusts are effective vehicles for probate-avoidance, asset preservation, and tax planning.
Probate is generally a very good thing to avoid. Joint tenancy is sometimes touted as a cheap and easy way to do this. However, it is not a "fix" that… Read More »
Probate can be quick, easy, and inexpensive. Unfortunately, it is rarely any of those things.
This article answers some of the most frequently asked questions about estate planning.