All adults must ensure they have an estate plan together so their loved ones know their wishes for assets. Getting this in order is critical so that your estate isn’t handled in accordance with the intestate laws that are set by state law. As you’re getting your...
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Year: 2021
Is it enough to be a sole proprietor?
One kind of business entity that many small businesses start out as is a sole proprietorship. This business structure is the easiest business entity to set up, but it does not offer you the protection that you would get with some other business forms. If this is your...
What you need to know about probate
Probate is a court process to manage the estate details of someone who dies. Probate laws are complex and involve many factors like dealing with financial responsibilities and transferring property to heirs. What issues does probate manage? These court proceedings...
How to choose a charity for your charitable trust
You want your life and all your hard work to count for something, and you want your legacy to endure long after you’re gone. Because you have the ability to be generous to both your heirs and others who are less fortunate, you’re considering using one or more...
Who inventories assets during probate?
Your loved one passes away, leaving behind financial assets, physical assets, a home, a car and much more. You know that you need to divide this up between their heirs and beneficiaries. But you can’t just do that without determining what is really there. As such,...
Can you put intellectual property and royalties into a trust?
You’ve always been a creative type, and you’ve made a pretty good living through your residuals and royalties. You’ve got an impressive array of copyrights, patents, trademarks and other intellectual property to your name -- and they may make up the bulk of your...
2 kinds of charitable trusts help you pass on your assets
If you don’t have family or would not like to pass on all of your assets to friends or other loved ones, then one option you have is to open a charitable trust instead. A charitable trust can benefit only the charity that you select or may pass on to a charity as well...
How will divorce affect your estate plan?
Divorce requires you to make changes in many aspects of life. One area that can be easy to forget about is your estate planning. You should revise your estate plan every few years anyway. Yet, you should also do so whenever there is a significant change in your...
3 tips to avoid probate
Many people mistakenly believe that if they have a will, their estate will not go through probate. It is not that simple. Probate is a process where the court steps in to ensure a will is valid and that assets and property are properly distributed according to the...
How funding a living trust can benefit you and your family
As someone looking into estate planning, you might have noticed how there's generally more to this process than just drafting your will. There are plenty of other legal documents or instruments that form part of the estate planning process. Trusts are one of them. ...