Some people are under the impression that the only estate planning document you need is a will. This is a very shortsighted perspective because there are other considerations that will enter the picture if you want to plan your estate properly. Asset Transfers The idea that a will is the right choice for most people should be tossed out the window. In reality, the majority of people with a reasonable store of resources would be better served by the utilization of a revocable living … [Read more...] about Estate Planning: Have You Covered All Your Bases?
letter of final instructions
Are There Gaps in Your Estate Plan?
If you put your estate plan in place as a stopgap measure without giving it a lot of thought, you may have overlooked some important details. With this in mind, we will look at some of the elements that are often omitted in this post. Letter of Final Instructions Letâs say you are going on vacation and you ask your sister to take care of some things around your home while you are gone. You would not leave her a to-do list without providing instructions so she can find the things that she will … [Read more...] about Are There Gaps in Your Estate Plan?
Share Final Arrangement Preferences in Your Estate Plan
You can take two different approaches to the estate planning process. There is a bare-bones, unemotional perspective that involves nothing more than expressing how you want your pie to be sliced and distributed. The other option is more comprehensive in nature, and it will take the feelings of your loved ones into consideration. A more holistic orientation will also give you the ability to attend to details with your own preferences in mind, and this can enter the picture when it comes to … [Read more...] about Share Final Arrangement Preferences in Your Estate Plan
These Estate Plan Details Are Often Overlooked
A lot of people adopt an overly simplistic view of estate planning. They think that it all boils down to the creation of a will or a trust, and thatâs the long and short of it. Clearly, you have to state your wishes in writing, but there are some finer details that must be attended to as well, and we will look at three of them here. Letter of Final Instructions You would never ask someone to complete a task for you without giving them the information that they will need to do the job. This … [Read more...] about These Estate Plan Details Are Often Overlooked
