Life is a series of significant milestones, each bringing its own set of joys and challenges. Among these milestones—marriage, divorce, and parenthood—estate planning plays a crucial role in ensuring that your assets are protected and your wishes are honored. Navigating estate planning during these life transitions can be complex, but understanding the key considerations can […]
Trust Administration
Have You Checked Your Beneficiary Designations Lately?
You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and really, all the other accounts that allow you to name a beneficiary)? It may have been years since you first opened an individual retirement account, bought a life […]
Won’t My Spouse and Kids Inherit Everything When I Die?
You may think that if you die while you are married, everything you own will automatically go to your spouse and children. But you are actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as dying intestate. In that case, the specifics will […]
The Perils of Joint Property
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
Understanding Trust Administration
Trust administration is the process of managing the assets held within a trust according to the terms laid out by the trust’s creator (grantor). It involves overseeing the trust’s operations from the point of the grantor’s death or incapacitation until the final distribution of its assets. The objective is to ensure that the beneficiaries receive […]
Trust Administration Pitfalls to Avoid
Trust administration plays a crucial role in ensuring the smooth transfer of assets and fulfilling the wishes of the trust creator. However, the process can be complex and prone to potential pitfalls. By exploring some of the common mistakes that can occur during trust administration and providing practical tips on how to prevent them, trustees […]
A Guide for a Smooth Administration
Preparing for the future and ensuring a seamless administration of assets and responsibilities is crucial. As you plan for the inevitable, one essential aspect to consider is providing your successor trustee with the necessary information to efficiently handle your affairs. Here is our guide to the essential information your successor trustee should know in advance. […]
Navigating Affairs After a Loved One’s Passing
The loss of a loved one is a challenging and emotional time. Amidst the grieving process, there are practical matters that need attention, especially in relation to your loved one’s estate. Estate planning plays a vital role in ensuring a smooth transition and proper distribution of assets. Here are 10 important steps to take when […]