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Everyone should update their estate plans at various points in their lives, such as when they get married or divorced or when their financial situation changes substantially. One of the most important times to update your...

When thinking about making an estate plan, financial and physical assets often come to mind first — bank accounts, life insurance policies, real estate, cars, personal effects, etc. Increasingly, however, more and more of...

Trusts — both revocable trusts and irrevocable trusts — are powerful and versatile estate planning tools that can be used to accomplish a variety of goals. But each type of trust comes with its own set of pros and...

Trusts can be used to accomplish many estate planning goals. Some of the most common of those are avoidance of probate and tax planning. They can also be used effectively for asset protection. For example, let’s say that...

Individuals who hold power of attorney (known as “attorneys in fact”) typically have extensive authority to make decisions on behalf of their principals, including most medical and financial decisions. But with great...

Divorce is one of the most stressful ordeals an average person can experience, and not only due to the emotional toll it takes. It is well-known that divorce can also wreak havoc on the former spouses’ finances, with...

When you die and you have a will, the executor of your estate named in the will oversees the probate administration of your estate. They step into your shoes and are responsible for making an inventory of the estate; paying...

As the protagonist of a 1986 teen comedy film once said, “Life moves pretty fast.” This observation is particularly relevant in the estate planning context, as life’s ups and downs can cause established estate plans to...

Having a power of attorney arrangement in place is a smart move for a number of reasons. First, a power of attorney is one of the most flexible estate planning tools available. You may use it to empower your agent to make...

The purpose of estate planning is to ensure that a person’s wishes are carried out exactly as they would have intended in the event of their death or incapacitation. Estate planning can only serve that purpose, however, if...