This article or post will describe the duties of an executor. The executor is the person that you appoint to execute all your wishes in your last will and testament. The first thing the executor does is, he or she takes your will and presents it to the probate court in the form of a …
Estate Plans need to be Reviewed Periodically
Today I’m going to talk about when you should be reviewing your estate planning documents, and your estate plan in general. Estate planning is not a set it and forget it thing, you need to review it periodically. Best case scenario, you review it each year, but hopefully you review it at least each three …
Do I have to take what I’m given in a will?
Today I’m going to talk about what to do when a will gives you something you really don’t want, for one reason or another. If a will gives you something you don’t want, you can simply disclaim it and say you don’t want it. Then you don’t get it. The will can’t force you to …
Estate Planning around Addictions
Today we’re going to talk about estate planning when you have a family member or a beneficiary with an addiction issue. These addictions can be from what we commonly think of drugs, alcohol, gambling, or even just spending. There are two main ways that you can deal with these addiction problems. First, you can just …
Divorce can mess up your Estate Plan
Today I’m going to talk about how divorce can cause big problems for your estate plan. You might be thinking, “I finally got the final order from the court. I’m free of this person. I can move on. The divorce is final.” You can move on, but before you do that, you need to think …
Kids Going to College need these documents
Today we’re going to talk about the three documents your child heading off to college needs to have. Every parent’s worst nightmare is their child goes off to college and something happens, they get sick, they get hurt, they get into a car accident. These documents make it so you can still help them when …
Two Types of IRA Trusts
Today, we’re going to talk about IRA trusts. These are a way to literally protect the beneficiaries from themselves and control how they get money. There’s two main types of IRA trusts: an accumulation trust and a conduit trust. An important aspect of both these trusts are if you’re leaving an individual retirement account, an …
Two types of Special Needs Trusts
Today we’re going to talk about the two types of special needs trusts. Special needs trusts are designed to help a special needs beneficiary continue to qualify for public benefit programs such as Medicaid, by keeping their assets low and their income low. The first type we’re going to talk about is a third party …