Right of Survivorship vs. a Will: What’s the Difference?
When planning for the future, it’s essential to understand the tools at your disposal to ensure your wishes are honored and your loved ones are protected. Two commonly misunderstood aspects of estate planning are the right of survivorship and a will. While both play critical roles in transferring assets, they operate very differently. Let’s dive […]
How (And When) to Update Your Last Will & Testament
A last will and testament is one of the most critical documents you can prepare during your lifetime. It outlines the distribution of your assets and property after you pass away, ensuring that your loved ones are cared for and your wishes are respected. It also names a guardian for your minor children. Many draft […]
Comparing a Will-Based Estate Plan and a Revocable Living Trust-Based Estate Plan
Basic Anatomy of a Family Estate Plan Everyone needs an estate plan, regardless of your age, stage in life, and the amount of assets you have. An estate plan should include a Health Care Proxy with advance directives about end of life planning–if that is your choice–and a financial Power of Attorney. Your estate plan […]
Last Will and Testament: Does Your Executor Get Paid for Services? And If So, How Much?
The executor of a Last Will and Testament – the person you appoint to oversee your estate – is entitled to be paid for his or her time and services. How much do they get paid?
Everything You Need to Know About Your Last Will and Testament
One of the most important documents in your estate plan is your Last Will and Testament, or more simply known as your Will. Your other documents, such as your Power of Attorney and Health Care Proxy, are supplementary to your Will and have more to do with your wishes during your life, while your Will […]
Video: Your Last Will and Testament with Gentreo
Handling an Estate When Someone Has Lost Capacity
When creating an estate plan, for example preparing a Last Will and Testament, one of the critical components to the enforceability of the document is that the person signing it has full control over his or her mental faculties.
How Your Will Affects Your Spouse, Children, and Pets: A Complete Guide
Your Will is a crucial part of your estate planning, and allows you to protect your spouse, significant other, children, and other loved ones after you pass away. Even your pets can be included in your Will. Other estate planning documents, such as a Health Care Proxy and Power of Attorney, are essential documents that […]
You Have Been Named Executor of Your Sister’s Will – What Do You Have To Do and When?
Being elected as an executor of an individual’s Will is an important responsibility. Administering a Will can be time-consuming, and it requires strict adherence to details and deadlines. While each state has different rules and regulations concerning the administration of a Will, the general principles remain the same. It is essential, however, to make sure […]
What Happens If You Don’t Have a Will?
Why You Need to Plan Ahead Estate planning is for everyone. You should do it now. Waiting is not a good idea as life happens. When life gets busy, estate planning often falls to the bottom of the to-do list. Too many assume they have time to prepare, or they believe their family will automatically […]