Approximately three-fourths of Americans do not have a basic will. Many of the same people also have children under the age of 18, which underscores a major misunderstanding about estate plans: They can accomplish much more than just handling financial assets (money, accounts, and property). One of the most important estate plan functions for parents […]

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Fighting over provisions in your will or trust can derail your final wishes, rapidly deplete your financial legacy, and tear your loved ones apart. However, with proper planning, you can help your family avoid a potentially disastrous fight. If you are concerned about challenges to your estate plan, consider the following: 1. Do not attempt […]

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Even if the process is amicable, divorce can be one of life’s most stressful events. With so many major changes taking place, it’s easy to forget to update your estate plan—or simply put it off until it’s too late. After all, dealing with yet another lawyer is probably the last thing you want to do. […]

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It has been said that the only thing harder than being an addict is loving one. It can be particularly difficult for a parent to bring a child into the world, full of hopes and dreams about their future, and then watch them spiral down into addiction. Having someone in your life who struggles with […]

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When someone asks you to be the executor of their estate, it might seem like a straightforward responsibility – distribute assets according to their will and handle some paperwork. However, as many executors discover, the role involves far more complexity, time, and emotional labor than expected. Understanding these challenges now can help you better prepare, […]

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Many members of the next generation are banking on a sizable inheritance as part of an unprecedented intergenerational wealth transfer occurring in the United States right now. However, research shows a growing disconnect between how much children expect to receive and how much their parents plan on leaving them. You generally have no right to […]

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All of your life, you’ve worked hard to save your assets and put money aside. Now that you’re writing out your estate plan, you want to leave some of that money to your grandchildren. You have some big plans for them. For instance, maybe you know about the crippling rise in student debt, so you want […]

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Starting a family is not a financial decision. You do it because you love your spouse, you love the idea of having kids, you have always wanted to be a parent or for some other variation on this theme. Maybe it’s always been a life goal of yours to have kids. You’re at that stage […]

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Do you have any financial documents with a beneficiary, e.g., a life insurance policy? Maybe you have a retirement fund with a beneficiary who is supposed to get the contents of that fund when you pass away. As you write your will, you may think it’s easy to adjust things. Just name who you want […]

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You want your children to have your house after you pass away. However, you do not want to give it to them as a gift in advance because you plan to live there until you pass away. Likewise, you don’t want to sell it to them. So, if you just stay in the home and […]

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