Last week I started writing about moving trusts from one state to another. In today’s post, I’ll share a few more things to consider if you are moving from one state to another, including the way states may treat marital property differently. States Treat Marital Property Differently Although most states…
If you have a revocable living trust and decide to move from one state to another, your trust should remain valid in your new state. Though the validity of this trust won’t be affected, you might want to make some changes to it since different states can have different laws…
In last week’s post, I shared tips for making sure your loved ones will be able to find your estate planning documents when these documents are needed. Issues can also arise when it comes to finding the assets of someone who has passed away. It is common for one spouse…
The time and money you spend creating estate planning documents might all be in vain if your loved ones cannot find your documents or assets after you pass away. Although you want to be careful when it comes to sharing information about your will and assets to avoid exposing yourself…
Your will provides for the disposition of your assets upon your death and is designed to tie up loose ends in your estate. You may wish to include specific bequests to beneficiaries in your will, such as collectibles, jewelry, or art that you may wish to leave for your child.…
Young adults who may just be starting a family often feel they have plenty of time to focus on building a financially secure future and before needing to create a comprehensive estate plan. However, estate planning, even for young adults, is crucial to ensure that children and other loved ones…
During the holiday season, we often take time together with family and reflect on the year as it comes to a close. As we have all gotten a year older, this can also be a time to talk with older parents and other family members about the management of assets…
Whether you prefer storing records “the old-fashioned way” with physical documents kept in cabinets and folders or storing records “on the cloud” or in some way digitally, most people today have at least some digital documents and assets. It is important to plan for who would access your digital assets…
In last week’s post, I shared a few ways to provide support with estate planning to a family member or loved one with mental health challenges. Here are 3 more ways you may be able to support them, depending on their specific situation: • Consider a guardianship. If this family member or…
Estate planning for a family member with mental health issues can be challenging. It can be hard to figure out what this person is able to handle on their own and what they may need assistance with, especially as this may change either gradually or quickly with time. In many…