- Guide to the Washington, D.C. Estate Tax
Washington, D.C. does levy an estate tax on the estates of certain people after they have died. Specifically, the D.C. estate tax applies to any estate worth more than $4,254,800 in 2022. This is up from past years. The rate… read more…
- DoYourOwnWill.com Review: Pros & Cons
Online will-writing and estate planning platform DoYourOwnWill.com boasts features that cover a wide variety of will-related situations. Surprisingly, you won’t have to pay anything to take advantage of what the company offers. By the same token, DoYourOwnWill is relatively basic, and those with more complex estate planning needs may want to look elsewhere. DoYourOwnWill also doesn’t… read more…
- Trust & Will Review: Pros & Cons
Trust & Will is an online estate planning platform that allows you to create documents such as wills, trusts and guardianships. Trust & Will is available entirely online, so you won’t need to download software to your computer. Trust & Will is a great estate planning tool, as it combines a wide range of services… read more…
- Rocket Lawyer Review: Pros & Cons
One of Rocket Lawyer’s key strengths is its versatility; it allows you to create a wide range of estate planning documents beyond a basic will, making it a useful tool for those looking for a more comprehensive planning solution. However, it does come with a few important considerations. The platform offers a seven-day free trial,… read more…
- Quicken WillMaker & Trust 2025 Review
Quicken is already a popular personal finance company when it comes to tracking spending or getting a mortgage. However, the brand can also help you take care of your estate planning needs. Quicken WillMaker & Trust 2023 helps you put… read more…
- Best Online Will Makers for 2025
A will is an important part of a basic estate plan and making one may be easier than you might think. Online will-maker software programs allow you to create a will on your own, often for less than what you… read more…
- How to Make a Living Will
A living will is a legal document that allows you to specify the kind of care you’d like to receive in end-of-life situations. This is different from an advance healthcare directive, though either one can be an important part of… read more…
- Can You Remove the Executor From a Will?
Creating a will is an important step in estate planning. A last will and testament is an important legal document that allows you to specify how you’d like your assets to be distributed after you pass away. You can also… read more…
- Guide to Estate Planning for Second Marriages
Getting married for a second time following a divorce or the death of your first spouse can feel like a fresh start. But it’s important to consider how joining your life with someone else’s may impact your financial plan, including… read more…
- Simple Trusts vs. Complex Trusts
A trust can be a useful estate planning tool, in addition to a will. You can use a trust to remove assets from probate, potentially minimize estate and gift taxes and ensure that assets are managed on behalf of beneficiaries… read more…
- What Is the Generation-Skipping Transfer Tax?
Estate planning can help you pass on assets to your heirs while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply. Also called the generation-skipping tax, this federal tax… read more…
- What Is Medicaid Estate Recovery?
Medicaid is a government program that can help eligible seniors pay for nursing home care. If you’re helping an aging parent navigate Medicaid because they don’t have long-term care insurance or you think you’ll need it yourself someday, it’s important… read more…
- What Is a Nuncupative Will?
Making a last will and testament is an important part of your estate plan and there are different types of wills to choose from. A nuncupative will, meaning a will that’s oral rather than written, may be an option in… read more…
- Per Stirpes vs. Per Capita in Estate Planning
When creating an estate plan, one of the most basic documents you may wish to include is a will. If you have a more complicated estate, you might also need to have a trust in place. Both a will and a trust can specify how you want assets distributed among your beneficiaries. When making those… read more…
- What Should I Do With a $50k Inheritance?
It’s not uncommon for people to receive sizable inheritances. But it’s less common for them to make the most financially advantageous decisions about what to do with their newly acquired assets. If you inherit a significant amount, such as $50,000,… read more…
- A Guide to Prenuptial Agreements in Florida
When a marriage ends in divorce in Florida, assets are likely to be divided approximately 50-50 according to the prevailing practice of equitable distribution. Florida couples wanting a more active role in deciding how marital property will be divided in… read more…
- An Overview of Filial Responsibility Laws
Taking care of aging parents is something you may need to plan for, especially if you think one or both of them might need long-term care. One thing you may not know is that some states have filial responsibility laws… read more…
- How to Change the Executor of a Will
Drafting a last will and testament can help to ensure that your assets are distributed according to your wishes after you pass away. You can also use your will to name a legal guardian for minor children, as well as… read more…
- Who Can and Can’t Witness a Will?
A will is an important part of your financial plan. When you write a last will and testament, you’re creating a legal document that determines where your assets will go after your death. You can also use a will to name… read more…
- Fiduciary Bonds: Definition, Types, Costs
A fiduciary bond, otherwise known as a probate bond, is a protective court bond that ensures a fiduciary will honor the expectations placed on them according to the law. The fiduciary bond upholds the interests and protection of the estate… read more…
- What Is a Fiduciary Deposit Account?
A fiduciary deposit account is an account that’s owned by one or more persons but managed by another. The owner is known as the principal, while the manager is known as the fiduciary. These accounts are sometimes used to handle… read more…
- A Guide to Schedule K-1 (Form 1041)
Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiary’s share of an estate, including income, credits, deductions and profits. Beneficiaries of an inheritance should… read more…
- Can I Inherit Debt?
When someone passes away leaving debts behind, you might be wondering if you have any personal liability to pay them. If you have aging parents, for instance, you may be worried about having to assume responsibility for their mortgage payments,… read more…
- What Is a Simple Will and How Do You Make One?
Creating a will is one of the most basic elements of estate planning. There are different types of wills you can choose from, including a simple will. Simple or basic wills let you spell out how you want your assets… read more…
- What Is a Joint Will, and How Does It Work?
A joint will is a will two people, typically spouses, create to handle the distribution of their assets once they pass away. Joint wills can simplify the will-making process to a degree, but they can sometimes result in mistakes or cause problems for the surviving spouse or will maker. It’s also worth noting that not… read more…