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According to Gallup, less than half of Americans have a will. Drafting a will can help ensure that your inheritors distribute your assets in accordance with your wishes after your passing. However, you should proceed with caution and avoid common mistakes that could...
The future of your farm is an important part of your estate planning. Determining that future starts with an accurate valuation. Many factors contribute to the value of a farm operation, and you need to understand those factors and how to account for them. These four...
Estate planning takes on a different level of importance and detail when you own a family farm. Advanced planning helps ensure that your property and the operation you have invested in remain operational and secure. Although estate planning, in general, is reasonably...
Setting up a trust can offer financial stability to a loved one, such as a special needs trust. In this situation, a grantor may need to create and fund a trust for someone who cannot care for themselves or have a limited capacity to do so. According to MetLife,...
Probate is a court process to analyze and transfer estate assets after someone dies. It can take a long time, delaying the distribution of assets to family members, and be expensive. However, there are ways to structure your estate plan that will protect your loved...
Because many people with disabilities require substantial care and support, it is essential to plan for their financial and other needs carefully. Special needs trusts and ABLE accounts are two tools that you can utilize. What are these tools and how do they differ?...
If you are single and do not have any children, planning your estate might seem excessive and unnecessary. However, being proactive about your future is a responsible decision regardless of your status. Estate planning can add value to your life and encourage you to...
Leaving a substantial inheritance to your children is a generous and thoughtful gesture, but it can also come with its share of challenges. Without proper guidance, young heirs may struggle with managing their newfound wealth and make costly mistakes. Here are some...
The executor of an estate has a very big job to handle. This is why it is crucial to pick a person who you can trust, and who can handle the weight of the position. But what exactly do executors have to do, anyway? Management of finances Forbes takes a look at the...
When creating your estate plan, you can include a section that names people with powers of attorney in case you cannot make important decisions for yourself. Making a power of attorney designation is useful when planning ahead for medical emergencies and end-of-life...
