When working on estate planning, it can be very easy to make mistakes. Common errors crop up all the time, and these mistakes can cause confusion and difficulty in the future. A well prepared estate plan will protect your assets and save your loved ones a lot of time and work, while an estate plan with errors can cause quite a headache for both you and your beneficiaries. Below, are the most common estate planning mistakes.
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Common Estate Planning Mistakes
Thursday, February 18th, 2010Basic Steps to Creating a Will
Thursday, January 21st, 2010Preparing a will may be something many people find a little morbid, but it’s a very important thing to do. Even though it does mean thinking about one’s own death, creating a will not only provides guidelines for the distribution of your property, it can also help protect your heirs. It will often save them money and time and it will also remove any question or doubts as to your final wishes and decisions.
Advantages of a Living Trust
Thursday, December 17th, 2009The purpose of creating a living trust is often not only because they want to set up a trust for their beneficiaries, but because they want to benefit from the advantages a living trust offers. However, there are some disadvantages to creating a living trust as well, and it’s important to understand the various advantages and disadvantages to a living trust before creating one.
Power of Attorney Basics
Friday, November 6th, 2009A power of attorney is a document that gives one person the legal authorization to make decisions on someone else’s behalf. This power extends to many different business and legal matters. By executing a power of attorney, the grantor (sometimes called a donor or principal) is authorizing his or her agent to assume these legal powers. Institutions such as banks, hospitals, and the IRS require that power of attorney be done in writing.
How to Change Your Will
Sunday, September 6th, 2009Once you’ve created your last will and testament, you may believe you are finished with this depressing chore. However, over the years, you may find that you need to update or completely redo your will. There are a variety of things that can make this necessary, including marriage or divorce, having children, changing your beneficiaries, and/or selling or buying property. Here are some basic steps to keep in mind when changing your will.
