A revocable living trust is called that for a reason – because you have the option to revoke or change the trust document at any time. If two spouses create a revocable trust together, either spouse has the right to revoke the trust, but they must agree in writing to any amendments to the existing trust document. There are…
One of the most helpful and practical parts of any good estate plan is known as the power of attorney, or POA. You’ve likely heard this term before, especially related to healthcare and finances- the two major areas that this form applies. So, what is the power of attorney and why should you complete this document? Essentially, the POA…
In the world of estate planning, things like wills and trusts are known as the bread and butter. Most people are familiar with how wills work, and why creating one can be beneficial. However, many people aren’t sure when it comes to trusts, especially because there is a pervasive myth that trusts are only for the wealthy. Trusts are…
When you think of “estate planning,” you probably don’t picture a young, healthy professional, do you? Many of us are accustomed to associating estate planning with older individuals, at least of retirement age. Thus, many people assume that they don’t even need to think about getting their legal affairs in order until later in life. However, this couldn’t be…
In the world of estate planning, there is something known as “probate,” that many people wish to avoid. Probate is simply the court-supervised process of overseeing and distributing property after one’s death, mainly revolving around three main issues: determining the final wishes of the deceased, paying their debts, and disbursing their assets to their beneficiaries. During the probate process,…
In the estate planning world, there are many designations that are good to know. Because many people go into estate planning in order to get valuable peace of mind, understanding the individuals and legal rights you may give them is critical. Many of us worry about what will happen if we are suddenly injured or incapacitated, from a traumatic…
The best way to ensure that your wishes will be honored after your passing is to create a throughout estate plan with an experienced attorney. A key component of any estate plan is a will. A will is legal document which allows you to distribute your property and assets after your death. Without a will in place, your family…
It is tempting to use an online will creation program for creating your Last Will and Testament. There are a few programs out there and they will tell you that the Last Will and Testament created is as good as one written by an attorney and for a much cheaper price. However, the quality of the Last Will and Testament created…
Many stepparents consider their stepchildren to be their own. When this is the case, it is very important to consider how to draft your estate plan to ensure that your stepchild is treated like any other children you may have. There are a few ways to do this. First – you could have an attorney draft a will and/or…
Congratulations! You have done two amazing things – you brought a wonderful child into your life and you planned for the future by creating and signing a will. Now you are wondering if you need to do a new will and what happens if you don’t. These are great questions. First, you should do a new will because it…
