Five Reasons to Have a Will
Your will is a legally-binding statement directing who will receive your property at your death. It also appoints a legal representative to carry out your wishes. However, the will covers only probate property.
Understanding the Common Types of Trusts
A trust is a legal arrangement through which one person, called a “trustee,” holds legal title to property for another person, called a “beneficiary.” Trusts fall into two basic categories: testamentary and inter vivos.
Married Couples Need an Estate Plan
Don’t assume your estate will automatically go to your spouse when you die. If you don’t have an estate plan, your spouse may have to share your estate with other family members. If you die without an estate plan, the state legislature has decided where your assets go.
Five Estate Planning Myths
There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you.
The Hazards of Do-it-Yourself Estate Planning
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although such products are convenient, using them could create serious and expensive legal problems for heirs.