After a person dies, the estate typically has to go through probate, a legal process in which a court oversees the distribution of assets and payment of debts according to the terms of the will. Although probate can sometimes be avoided through estate planning, it is...
Choosing beneficiaries is an important aspect of estate planning, but it’s one that sometimes gets glossed over. To make sure your wishes are carried out, it’s important to consider three key issues when naming beneficiaries for life insurance policies, investment...
The concept of a will is fairly simple. You want to tell others how your estate should be distributed after your death, so you state your wishes in a document. In reality, however, wills can get complicated. This is especially true when handwritten wills are involved....
Estate planning is important for everyone, but it’s especially important for parents with minor children. In addition to deciding how to distribute your assets, you must also make decisions to ensure that your children will be properly cared for. This includes making...
Your estate plan shouldn’t be a secret. According to CNBC, a poll found that 32% of people between the ages of 18 and 34 got a will because of COVID-19. It’s good that the pandemic is prompting people to tackle their estate plans, but if the pandemic is also...
What happens when you die in debt? It’s a question that more and more Americans are probably asking themselves. According to Experian, U.S. consumer debt reached a record high of $14.1 trillion in 2019. This total includes $9.6 trillion in mortgage loans, $1.4...