- How to Create a Living Trust in Mississippi
In Mississippi, individuals can use living trusts as an estate planning solution. A living trust lets you retain control of your assets during your lifetime while ensuring a smooth transfer to your beneficiaries after death, often avoiding the delays and costs of probate. Whether your estate is small or substantial, establishing a living trust can… read more…
- How a Special Needs Trust Works
If you have a loved one who deals with chronic illness or a disability of some kind, you want to be able to keep supporting them after you’re gone. However, you don’t want to disrupt their ability to collect funds from programs like Medicaid or Disability. In these situations, you can use a special needs… read more…
- How to Create a Living Trust in Montana
Estate planning is a process that allows you to protect your assets in the event of your incapacitation or death. One way to do so is by forming a living trust. Living trusts are legal documents that ensure your assets… read more…
- How to Create a Living Trust in Missouri
Setting up a living trust in Missouri can help your heirs receive your estate promptly. It does this by avoiding probate, which can take some time in the state, since it has not adopted the Uniform Probate Code. We’ll tell… read more…
- How To Create a Living Trust in Oklahoma
If your estate is worth more than $200,000, you should consider creating an Oklahoma living trust. This estate planning tool allows your heirs to receive your assets without waiting for probate, which takes longer in your state than states that… read more…
- How to Create a Living Trust in Tennessee
It’s not only natural to be thinking about what will happen to your property after you die. It’s also smart. For Tennesseans who want to spare their heirs the time and expense of going through probate, transferring assets to a… read more…
- How to Create a Living Trust in Minnesota
Estate planning is a key part of ensuring that your assets are properly distributed after you’ve died. One of the many estate planning options available is to create a living trust in which you can put your assets and property.… read more…
- How to Contest a Will in Probate Court
When someone passes away, their estate may have to go through the probate process. If they left a will, that document can be legally contested in probate court. There are several reasons why a will may be challenged. Understanding how… read more…
- How a Bypass Trust Works in an Estate Plan
Creating an estate plan is an important step in managing and protecting your wealth. This is especially true if you’re married and want to leave assets to your spouse without worrying about a probate process. A bypass trust could… read more…
- Why a Generation-Skipping Trust May Be a Good Idea
For many grandparents, it might make sense to get a generation-skipping trust, which is one of the cleanest ways to give money directly to your grandchildren without having that money go through their parents (your children) first. This is also a way to pay the estate or inheritance tax just once. As you navigate this… read more…
- What Joint Tenancy Means for Your Estate Plan
Estate planning allows you to decide how your property, assets and other valuables will be distributed after you’re gone. For individuals who are married or share property with someone else, joint tenancy can become part of these discussions. This form of ownership can play a significant role in your overall estate plan, impacting how assets… read more…
- How an Irrevocable Life Insurance Trust (ILIT) Works
iiii An irrevocable life insurance trust (ILIT) can provide peace of mind as you start your estate planning process. If you have a sizable estate or young beneficiaries, an ILIT can provide control over a life insurance policy that a… read more…
- What Is the “Death Tax” and How Does It Work?
Dying may get you out of a lot of things, but not taxes. If you have a lot of property and assets you want to leave to your children or other heirs, it may be subject to taxation. Federal and some… read more…
- What Is a Trustee and What Are Their Responsibilities?
A trustee is an individual appointed to administer assets or property for the benefit of a third party. A trustee could be appointed for the purpose of bankruptcy, a charity or certain kinds of retirement plans, but the most common… read more…
- Irrevocable Trusts: What They Are and When to Use Them
An irrevocable trust can maintain your wishes after you die, but it will cost you some flexibility. While a last will and testament requires a probate court process to distribute your assets to heirs, most trusts avoid probate. However, your… read more…
- What Are Transfer on Death (TOD) Accounts for Estate Planning?
Transfer on death (TOD) accounts can keep your estate planning intact while keeping your beneficiaries out of court. If you’re among the 57% of adults, according to Caring.com, who don’t currently have a will or trust, your family will likely head to probate court.… read more…
- How and Where to Create a Will Online
By having a will in place when you pass away, you can detail how you want your affairs and assets to be handled. To ensure your will is valid, you’ll need to create a meticulous plan for how your possessions will be distributed once you pass. The sheer volume of possessions and assets you’ve accumulated during… read more…
- How to Set Up Medical Power of Attorney
Complete estate planning includes setting up a medical power of attorney. This legal document – also called a healthcare power of attorney or durable power of attorney for healthcare – authorizes the person you designate to make medical decisions for you in the event you become incapacitated. Typically, this power encompasses choosing doctors, treatments and care facilities as… read more…
- What Is a Trust Company, and What Does It Do?
A trust company is a legal entity that can serve as an agent or trustee on behalf of a trust. They can be either stand-alone entities or divisions of commercial banks. If you’re planning to use trusts as part of… read more…
- All About Hiring an Estate Planning Attorney
As you grow older, it’s important to have a secure estate plan in place so you know your assets and family will be taken care of when you’re gone. This involves drawing up plenty of legal paperwork, which is when… read more…
- What Are the Steps to Succession Planning?
In business, having the right people in leadership roles is arguably the most important factor for success. That means that when a top executive or star employee retires or leaves for another role, there needs to be a contingency plan… read more…
- What Is Legacy Planning and Why Is It Important?
Traditionally, the process of planning for the transfer of assets to your loved ones after your death is known as estate planning. As you approach this process, you might also hear another term: Legacy planning. The terms are in many ways… read more…
- Writing a Letter of Instruction for Your Estate Plan
A comprehensive estate plan often includes writing a last will and testament to transfer your assets to your beneficiaries. Once you’ve passed away, the executor of your will shepherds the will through the probate process. However, you may have things you’d… read more…
- Medical Orders for Life-Sustaining Treatment (MOLST) Form
Medical issues bring about plenty of tough decisions about what treatments you do and don’t want to be performed. Because you may be incapacitated in these situations, many people prepare ahead of time by creating advance health care directives to record their… read more…
- A Guide to the Different Types of Trusts
Having an estate plan in place can offer reassurance that your assets will be managed according to your wishes, both during your lifetime and after you pass away. While many people think of wills as the centerpiece of an estate… read more…