It is open enrollment season and one of the benefits your employer is offering is legal insurance. Should you sign up for it? The answer to that question, like many other legal questions, is – it depends. Before making your decision, here are some questions to ask. What exactly is covered? All … [Read more...] about Should I get legal insurance?
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Responsibilities and Obligations of Personal Representatives
When a person dies with a Will in place, a Personal Representative or Executor is named as the responsible individual for winding down the decedent's affairs. In situations in which a Will has not been prepared, the probate court will appoint someone to that role. Whether you have been named or … [Read more...] about Responsibilities and Obligations of Personal Representatives
What to Do after a Loved One Passes Away
The loss of a loved one is a difficult time, often made more stressful when one has to handle the affairs of the deceased. Certain tasks must be completed to administer the estate of the deceased. This may be a great undertaking or rather minimal work, depending upon the level of estate planning … [Read more...] about What to Do after a Loved One Passes Away
Business Succession Planning Tips
Business succession plans contemplate and instruct regarding any changes in future ownership and management of a business. Most business owners know they should think about succession planning, but few actually end up doing so. It is hard to think about not being in charge of the business you have … [Read more...] about Business Succession Planning Tips
How to Leave to Stepchildren
Today, blended families have become increasingly common, and many individuals have stepchildren. In situations where stepchildren have not been legally adopted, however, they do not have a legal right to an inheritance from a stepparent. For those who wish to leave stepchildren part of their estate, … [Read more...] about How to Leave to Stepchildren
A Primer on Irrevocable Trusts
Many individuals are aware that a Will is one way to plan for the distribution of their assets after death. However, a comprehensive estate plan also considers other objectives such as asset protection. For this reason, it is essential to consider utilizing an Irrevocable Trust. This estate … [Read more...] about A Primer on Irrevocable Trusts
Problems with Joint Accounts as Vehicle for Inheritance
When deciding who will inherit your assets after you die, it is important to consider that you might outlive the beneficiary you choose. If you have added someone to your financial accounts to ensure that he or she receives this asset after you die, you might be concerned about what will happen … [Read more...] about Problems with Joint Accounts as Vehicle for Inheritance
Top Five Estate Planning Mistakes
In spite of the vast amount of financial information that is currently available in the media and via the internet, many people either do not understand estate planning or underestimate its importance. Here's a look at the top five estate planning mistakes that need to be avoided. Not Having an … [Read more...] about Top Five Estate Planning Mistakes
How does life insurance fit into my estate plan?
Life insurance can be an integral part of an estate plan. Policies can be set up to be paid directly to the beneficiary, without the need to pass through the estate. Having a life insurance policy ensures that some assets will be liquid, so that debts and expenses can be paid quickly and easily … [Read more...] about How does life insurance fit into my estate plan?
