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Articles
Married Couples Need an Estate Plan
It makes sense to assume your estate will automatically go to your spouse when you die. The reality is: if you don’t have an estate plan, your spouse may have to share your estate with other family members. Dying Without a Will If you die without an estate plan, the state will decide where y
Do You Need a Trust?: Estate Planning Q&A
According to Caring.com, only 34 percent of Americans have an estate plan. The primary reasons respondents gave for not participating in estate planning are: Procrastination Believing they need more assets Not knowing how to make an estate plan An estate plan is a comprehensive
What to Know About Creating a Living Will
Creating a living will ensures your future health care decisions and plans are respected. A living will, or advance directive, is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself. Everyone should have an advan
The Hazards of Do-It-Yourself Estate Planning
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although these products are convenient, using them could create serious and expensive legal problems for heirs. These digital services appear to offer a cost-effective and easy alternative to visiting
How Do I Transfer Property to a Family Member Tax-Free?
Takeaways There are several ways to transfer property to a child tax-free, including leaving it in a will, gifting it using lifetime and annual exclusions, selling it, or placing it in an irrevocable trust. Capital gains are key. Gifting property before death avoids estate tax but can subjec
Estate Planning: 3 Things to Know About Being an Executor
An executor is a person or entity you choose to carry out your last wishes outlined in your will. Your executor should be someone you trust is responsible enough to manage your estate after you pass away. Choosing an executor is a big decision when it comes to estate planning. So, what should