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Your Estate Planning Checklist for 2021

Early in 2021, you should communicate with your advisers and review several items about your 2020 planning, if that planning is to have any likelihood of succeeding.

Posted on: January 29, 2021

Can an Executor be Replaced?

Drafting a last will and testament can help to ensure that your assets are distributed according to your wishes after you pass away. You can also use your will to name a legal guardian for minor children or choose an executor for your estate.

Posted on: January 28, 2021

What Estate Planning Documents Should I Have when I Retire?

Few retirees have all of these documents that are crucial to their golden years — especially during a pandemic.

Posted on: January 28, 2021

What Happens If Trust Not Funded

Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.

Posted on: January 26, 2021

How Does a Trust Work for a Farm Family?

The trust is a very useful and flexible tool for estate planning, yet it is probably the most underused estate management technique. A trust is an artificial entity, something like a corporation, created by a document or instrument.

Posted on: January 25, 2021

What are Options for Powers of Attorney?

Powers of attorney come in different forms, each suited for a specific purpose. They serve as useful tools in any estate-planning effort.

Posted on: January 22, 2021

Should I Create Estate Plan Myself?

The ongoing coronavirus pandemic has pushed many people to make long-delayed decisions about estate planning. Many people will try the do-it-yourself route via various websites or books. Internet DIY websites make it easy to download forms, but there are mistakes people make when they try do-it-yourself estate planning.

Posted on: January 21, 2021

Is an Irrevocable Trust a Good Idea?

Like a lot of estate planning vehicles, irrevocable trusts work very well for some purposes—particularly for tax avoidance and asset protection—and not so well for other purposes.

Posted on: January 20, 2021

How Do You Keep Inheritance Money Separate?

Everything each spouse earns during their marriage is community property. Fortunately, a gift or inheritance is separate property. However, that’s only half the battle.

Posted on: January 19, 2021

Should I Add that to My Will?

A last will and testament is the foundation of an estate plan, which lets you plan for your estate after you’re gone. However, there are certain things that you might not want to put in your will.

Posted on: January 18, 2021