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Parents thinking about what happens to their children when they die often put a lot of careful consideration into the inheritance they leave for each child. Your plans can serve as a final reminder to your children of how much you love them. The inheritance they...
One of the main reasons for estate disputes is simply that items being left to different heirs have sentimental value. This is a type of value that doesn’t necessarily correlate to the financial value of the product itself. It causes people to give too much weight to...
Many people make the mistake of assuming that they are too young to create an estate plan. This is one of the top reasons for procrastination. Someone in their 30s may know that they need a plan, for example, but they will decide that they’ll circle back and make that...
Business succession planning is the process of passing a business on to someone else. For many business owners, this means giving it to the next generation. It’s a family business and they want to pass it on to their children. But there are also options to pass it to...
When your kids were growing up, they all had distinct personalities and traits. Those qualities likely continue to manifest in adulthood, at least in some form. Now that it’s time to do your estate planning, you wonder how to best protect your heirs after you’re gone....
As you consider your estate planning, odds are that you just assume your children are going to be the main beneficiaries who get your assets when you pass away. This may not be the case if your spouse is still alive and they have a claim first, but you do think that...
Estate planning is one of the most important things you can do for yourself and your loved ones. It ensures that your assets are distributed the way you want and can also provide peace of mind in knowing that you have taken care of everything. However, estate plans...
Estate planning often focuses on distributing the assets that you own. People also use it to do things like making medical decisions in advance. But it’s important to remember that it also has to address debt. Specifically, if you pass away with outstanding debt, that...
You’ve taken the important step of addressing your estate plan. First of all, you want to make sure that all of your loved ones are cared for should you become incapacitated. However, there are other things that you also want to include. You’ve always been a...
As you get older, it’s natural to think about end-of-life planning. However, younger people also need to consider this planning step. What would happen if you were unable to make decisions for yourself? Who would handle your finances and medical care? Do your loved...