Making an estate plan is an important task that every adult needs to do. They also need to ensure they keep it up to date, making changes to take account of new circumstances. Yet those two steps alone will not guarantee a smooth transition if you become severely incapacitated or die. One of the primary reasons problems could arise is…[...]

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There are many different documents you can use in an estate plan to address what may happen in the future. One example is a power of attorney, which grants an agent the power to make important decisions on someone else’s behalf. For example, an elderly person may be concerned about their own declining mental capacity, perhaps because they have been…[...]

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The probate process can easily take a year or longer to complete. Personal representatives have to identify and secure the assets of the deceased individual. They need to locate a will, if there is one, and then present it to the probate courts. Communication with interested parties is also one of their most important responsibilities. Typically, personal representatives provide information…[...]

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As you make your estate plan, one of your main goals may be to avoid disputes between your adult children. Perhaps there has always been some element of sibling rivalry. Maybe you have seen other families get into disputes that leave lifelong rifts between siblings. One thing to focus on is why these disputes happen, as this can help you…[...]

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Wills are typically physical documents. People once wrote their wills by hand or had an attorney manage that process for them. Modern testators establishing estate plans frequently have lawyers draft printed instruments that are more legible and professional-looking. They sign a physical copy of the will, which their personal representative can later present to the courts. With every major technological…[...]

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In the event of an incapacitating incident, a person may need emergency medical care while they remain incapable of expressing their wishes to others. A living will or advance medical directive helps clarify what preferences an individual has. An advance directive can guide their treatment when they cannot communicate their wishes directly. What important issues can people address in their…[...]

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Estate administration imposes many obligations on personal representatives or executors. Fulfilling financial obligations is one of the most important responsibilities during estate administration. Personal representatives who make major mistakes related to the financial obligations of the deceased individual may sometimes have responsibility for unpaid balances due. The failure to pay taxes could lead to personal liability or legal controversy. Only…[...]

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It can sometimes be difficult to bring up estate planning with your own parents. The implication is that they are going to pass away soon, which makes people feel uncomfortable. From your perspective as an adult child, you may also be wary of making your parents think that you just want to get your inheritance as soon as possible. But…[...]

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Creating a will is a key part of preparing for the future. It lets you decide who should receive your property and who will handle your affairs when you pass away.  Some people consider writing their own will to save time or money, but doing it yourself comes with risks. Below are some crucial points to consider.  It is technically…[...]

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The estate planning process is about more than writing a will or setting up trusts. It also means selecting individuals to handle important responsibilities. These individuals, known as fiduciaries, must act in the best interests of others. Their roles are central to ensuring that the wishes of the person creating the estate plan are carried out properly. Multiple fiduciary roles…[...]

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