What is a Holographic Will?
What is a holographic will? A holographic will is a handwritten will signed exclusively by the individual making the will. State laws vary regarding the legality of holographic wills. Some states recognize holographic wills only from active members of the military. Other state probate courts require two witness signatures on a holographic will to confirm…
Five Reasons You Should Have a Will
Do you know five reasons you should have a will? It may be uncomfortable to talk about your will. However, it is an essential conversation if you are married, have children, own a business, or possess any number of assets. Let’s explore some of the reasons why adults should have a will. 5 Reasons You…
What Does it Mean to be a Ward of the State?
What does it mean to be a ward of the state? When an adult is unable to care for themselves due to disability or disease, someone else has to manage their affairs. This is often accomplished by appointing a guardian. When no family member is available to become the guardian, the adult who needs care…
Maximizing Tax Umbrellas for Estates
How can you maximize tax umbrellas? Estate tax can rip as much as 40% of your family’s assets from them, depending on the value of your estate and its location in the country. Right now is the time to protect your estate from federal and state taxes. If you take the time to create a well…
Revocable Trust or Irrevocable Trust: Which One Do You Need?
Do you need a revocable or irrevocable trust? No matter what happens throughout your life, you are going to leave behind assets for someone when you die. You should always leave behind a legal document to guide how to distribute those assets. Another thing you should do to protect your assets is to put your…
Living Trusts for Beginners: What is a Living Trust?
What is a living trust? If you are not prepared when you die or become incapacitated, your loved ones have to foot the bill and jump through legal hoops. If you do not want to put that sort of (additional) stress on your loved ones in their time of grief, you can prepare these documents…
Estate Planning Tips for Parents
In the excitement of having a baby, we often forget to plan for the unexpected. Luckily for you, we have four estate planning tips for parents to help you do precisely that. Appoint a Power of Attorney When there is a newborn on the scene, it is essential you and your partner execute a power of…
What Is a Durable Power of Attorney?
What is a durable power of attorney? A Power of Attorney designation gives someone the right to make decisions on your behalf in a number of different matters. A Durable Power of Attorney allows for that decision-making to continue, for the designated medical and financial issues that it covers after you become incapacitated or are mentally unable…
How Do I Go About Setting Up a Trust?
How do you go about setting up a trust? People often think a trust is set up only by rich people, but that is not the case. Many people set up trusts, and the reasons are varied. While some people set up revocable trusts to help with taxes, the majority of trusts are set up…
When Granting Guardianship to a Family Member Is a Bad Idea
Is granting guardianship to a family member ever a bad idea? One of the most challenging things parents have to consider is that they may one day need someone to step in and take over the job of raising their children due to an unexpected accident or illness. Courts typically grant guardianship of children to…