When a person is disabled or has been diagnosed with an illness which means they will be eventually unable to make their own decisions, they often think about the need for a guardianship. A guardianship involves a person appointing another adult that can make legal and important decisions on their behalf when they are unable to.
When creating a will, it's only natural to turn your attention to your assets and who you want to name as your beneficiary (or beneficiaries).
The probate process can be every bit as complicated as it sounds, with disagreements between family members and beneficiaries often leading to litigation.
Eleven years after his death, you would assume that James Brown's estate would have been settled by now. Unfortunately, this isn't the case. Instead, things remain at a standstill.
While a charitable trust isn't the right estate planning tool for everyone, it's something you should at least consider. As you learn more about the benefits, you may come to find that it's something you can work into your estate plan.
As a resident of Massachusetts, there may come a time when you need to create a will. Like most, you'll begin to think about this early in life as to give yourself the peace of mind you deserve.
When it is time to plan for the disposition of your estate following your death, you will have many issues to consider. Some of these include protecting your heirs from excessive taxation, reducing conflict among your heirs and providing for family members with special needs.
Like many people, you may eventually turn your attention to your estate plan. While it's easy to believe that a will is all you need, this is very rarely the case. Instead, you could come to find that putting all your assets into a revocable living trust is the best decision you can make.
At some point, you may come to realize that your estate plan requires your attention. This often comes into play if you have reason to believe that a trust could benefit you and your family now and in the future.
Once you create an estate plan, it's easy to believe that you can leave it as is indefinitely. While you may find that you never need to make changes, don't count on this always being the case.