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Many people neglect creating a will or overlook its importance when creating an estate plan. However, a will is a crucial document ensuring proper asset distribution after you pass away. Your loved ones may face uncertainty, conflict, and financial loss without a...
Choosing a guardian for your children is one of the most important decisions about the future you can make. The right guardian will provide your children with the love and support they need if you die. Part of this task involves looking at potential factors that can...
If you have a minor child, it's vital to establish guardianship for them when drafting an estate plan. The legal guardian you choose will take care of them if you no longer can. Here are two instances when they may need to assume their duties: 1. Incapacitation...
Since Arizona is one of the most popular places to retire in the U.S., we have no shortage of senior living or “55+” communities. Whether you chose your community because you wanted to be able to play golf every day or simply to downscale to a small condo with little...
One of the primary benefits associated with planning for the future is that it provides you with the ability to protect your future interests. You have the right to have the final say over what happens with your property and your money after you pass, but you don’t...
When an individual passes, they leave behind their estate and parties who will have a pecuniary interest in the estate. Interested parties include beneficiaries, heirs and creditors. Creditors are easy to distinguish because they are the persons or entities to whom...
Creating an estate plan helps ensure your final wishes are carried out, and your loved ones have financial security. However, the probate process is a step between your passing and your beneficiaries receiving their inheritance. Depending on the size and complexity of...
Aside from wills, you could use other estate planning tools to accomplish various objectives, such as revocable living trusts. This legal option allows you to put your assets in a trust, legally entrusting your assets to another party if you ever die or become...
Estate planning is primarily associated with older individuals, people with adult children and high-value assets. However, an estate plan can protect anyone, including young people. It's never too early to draft one, provided you are of legal age to do so. Here is...
As executor, you have the honor of overseeing and settling someone's estate. Among your obligations will be to file the will and identify and compile a list of assets to distribute to heirs and pay creditors. However, some testators and executors may not realize that...
