As people increasingly use the Internet and digital technology for things such as online money market accounts, digital photo albums and social media accounts, it becomes even more important to plan for the future of these assets and include them in one’s estate plan.
Advance medical directives are a necessary part of all estate plans. The possibility that you may become incapacitated and unable to communicate your healthcare wishes is not something that you likely think about often.
Estate planning, including establishing advance directives, may help people prepare and protect themselves in case they become debilitated.
When you have children, your life is changed forever. In such cases, estate planning is no exception. All too often, many young parents do not take the time to create an estate plan that has provisions for the recent additions to their families, for various reasons.
There are many estate planning options for those who do not wish to give their assets outright to family. If you wonder whether your children will be able to handle a large inheritance once you are gone, you are not alone.
Trusts are versatile tools that can be used for a variety of estate planning purposes. Trusts can reduce estate taxes, ensure that money from an estate is used for its intended purpose and can protect heirs.
Buchanan Stouffer Alert CO Strikes Down Substitution of AFR Promissory Notes in a Grantor Trust
When you are in the process of making out your estate plan, one of your goals may be to leave money or property to a charitable or benevolent institution. If so, you are not alone, as many people of all income levels have made the same choice.