Estate Planning

As a testament, the will is a legal document stating a person´s final wishes following their death. With that, it is considered to be a major part of the individual´s estate. Although the will can be created by the individual, it can also be produced with the help of an attorney specializing in estate planning....  read more

What is irrevocable life insurance trust (ILIT)? ILIT is a tool in estate planning that protects your life insurance benefits from being subject to estate tax. Usually, the life proceeds of your life insurance policy are included as part of your gross estate. But with an ILIT that is adequately drafted, these proceeds can be...  read more

We all know the importance of a will. This applies primarily to senior citizens, but we should all have a choice written in advance as life is unpredictable. You may not be familiar with this, but most of a person’s typical household assets, like retirement accounts, qualify to be transferred outside of a will unless...  read more

Power of Attorney is a legal document that essentially states that the person you name (also often referred to as a Power of Attorney but legally often called the Principal or Attorney-in-Fact) has your full authority to make decisions on your behalf. The Principal can sign contracts, sell your possessions, make financial transactions, and even...  read more

Losing a loved one can be very hard, but the situation can be made even worse if their estate doesn’t pass through probate quickly and easily. Many people find that they can’t really get a sense of closure until probate is over. However, if the estate’s executor doesn’t seem to be doing their job, probate...  read more

While it doesn’t often happen, there is a legal process in place for the executor of an estate to resign from that position. When this occurs, it does often mean that the probate process comes to a temporary halt, but this delay may not be very long. If you are an executor who is considering...  read more

If you’ve written a will, you may feel like your estate is now protected. However, while that is true for your current situation, it’s not necessarily the case for the future. Your will needs to be updated regularly because your life, and your estate, is likely to change. Here are a few reasons why it’s...  read more

One of the most difficult parts of estate planning, for some people, is determining how to divide their assets. If you have very few assets or know that your heirs will be in agreement over how you divide things up, you may not worry too much about it. However, if you have a large number...  read more

If you have children, you likely plan on leaving your estate to them when you die. What do you do, though, if you have no children and are not married at the time of your death? You may not know who to leave your estate to, but there are a number of different options. Leave...  read more

One of the phrases you may hear when learning about estate planning is dead hand control. This morbid sounding phrase may make you think of a mummy, but it actually has to do with how your assets are handled by your heirs. Dead hand control allows, to some extent, for you to dictate when your...  read more