Many people view the probate process with wariness. This is in part due to confusion about it. Since probate proceedings have the potential to be simple or complex, there are many misconceptions floating around about them. 1. If you have a will your estate does not go...
Estate Planning
3 things your future executor should know
When you select someone to serve as the executor over your Ohio estate, you place a good deal of trust in this individual. It takes time and effort to serve as someone’s executor, but there are some important steps you might take to make things easier on the person...
What qualities should you look for in an executor?
As you plan out your will and final wishes, you may begin to wonder who can you depend on to take care of your estate and beneficiaries after your death. This task is important, and knowing what traits make an executor a quality choice can help you as you think about...
What can a trust accomplish that a will cannot?
While a will is a vital part of your Tennessee estate plan, a will only does so much. Sometimes, you may have specific estate planning goals that require more than a simple will, and in some cases, you may be able to achieve these goals through creating a trust....
What are powers of attorney?
When it comes to your estate plan, do you know which documents are the most crucial? You may have heard about powers of attorney, but the documents mean little to you if you do not understand what it means. According to AARP, every person should have a power of...
What if one dies without a will?
It is never easy to face the prospect of one's own mortality. On top of that, one might reasonably be reticent about the prospect of offending certain family members or friends with their decisions regarding the dispersals of their estates. For this reason, some in...
Include these 3 components in a simple estate plan
When you die in Tennessee without an estate plan, you may leave many things to chance. Having an estate plan allows you to have a say in where your assets go and what happens to you medically if you become unable to make these decisions in the future. Also, contrary...
Estate plan updates preserve function
An outdated estate plan may retain control of testators' legacies even if they made informal changes elsewhere. Because many courts reference legal documents to close an estate, it is critical for people to keep their plans updated. Significant life changes may impact...
Should you name secondary beneficiaries in your will?
While many people view drafting a comprehensive estate plan as something of a chore, it is better to approach it as the type of exercise it is – a way to prevent unnecessary confusion in the future. People write their wills to clearly specify the distribution of their...
What role does a beneficiary play?
As a beneficiary, you may find it confusing as to what your actual role in the estate plan might be. To that end, it is important to understand what an estate plan expects of you and how you interact with the trust and trustee. Some mistakenly believe a beneficiary...