One of the biggest hassles of creating a will is probate. In short, this is the process of legally examining the validity of a will before it can be put into action. This process is very financially costly and time consuming - in many cases, it can take as long as a year before beneficiaries are able to receive what they’ve been designated in a will. However, you can avoid probate through creating a living trust, which is a...
Putting together your Will doesn’t have to be a difficult process, but it can be overwhelming if you’ve never handled this type of legal document in the past. To make it easier, we’ve broken it down into steps. It is important to dedicate some time to this process, as it could take at least a day or two to make the important decisions and gather all of the necessary information. It is also important to decide whether you are...
When making a will, one of the most important parts is choosing a guardian for your minor children in the event of your death. While it’s something that no parent ever likes to think of, it is necessary to make sure that your children continue to be taken care of in case of an unlikely accident. There are many things to consider when choosing a guardian for your child - here’s what to keep in mind to help you...
Living trusts are often confused with wills, and many people don’t realize that they may be a better option for them in terms of leaving your financial assets to your family, transferring any businesses you may own, or distributing real estate. In order to determine whether a will or a trust is the better option for you, it is important to learn about both of them and what they can and cannot do. Here are some important facts to...
One of the most important components of making sure a will is handled properly is having a good executor. An executor is someone close to the deceased person who handles the will and makes sure that all of the property named in the document is distributed appropriately. If you’ve been named as the executor in a will, you may be wondering what exactly you’ll need to do upon their death. It can be overwhelming, but with some preparation, you...
