Even if your beneficiary designations have been set, a will provides an extensive and complete plan for your estate. This includes guidelines for covering assets and making critical decisions that designations may overlook. What Is The Purpose Of A Will? A will is somewhat straightforward documentation in which you declare what needs to happen to…
A last will and testament is a legal document explaining how an wants their property and assets divided after death. Louisiana is the only state currently that requires a will to be notarized. You do not have to notarize your will for it to be valid in any other state. Of course, it never hurts…
While a living will and last will and testament undoubtedly sound similar, the truth is these are two different documents with clear-cut purposes. Let’s take a look at these two options and how they differ from one another. What Is A Living Will? Similar to a last will and testament, a living will is a…
Many people consider estate planning and creating a will the same, however one is just part of the other. Basically, an estate plan is a more widespread plan of action for your assets that may apply throughout your life in addition to after your passing. A will, however, dictates where your assets will go after…
What should you put in a trust? Most individuals make sure to include financial accounts, real estate, life insurance policies, collectible vehicles, and more. What Can You Put In A Trust? Most individuals assume that once they sign their trust documents at their attorney’s office, they are good to go. Setting up the trust is…
Each adult must decide what is going to happen to their estate when they pass away. Clearly outlining your objectives for your financial affairs and property is one of the most considerate things you could do for your family. It helps eliminate uncertainty and speculation for those you care about the most. Trusts and a…
Try to avoid these five common mistakes when writing your will. 1. Planning For Death Only Wills are incomplete if they only cover what happens when you die. Wills should also include what happens while you’re alive and well. This is best accomplished with complimentary documents to the will that are known as advance directives.…
Nobody ever wants to think about their own death, but it is an inevitability that needs to be planned for. Here is a list of 5 essential things that every will should include. 1. Property List The first thing to tackle as part of your will is determining which assets/property to include. You will want…
An estate plan is a broad plan of action for an individual’s assets that may apply both during your life and upon death. A will, meanwhile, dictates where the assets will go after death. Let’s take an in-depth look at the differences between estate planning and wills. What Is Estate Planning? Property ownership, relationships, and…
Since an estate can’t be distributed to beneficiaries until the will goes through probate, the duration of the probate process directly impacts beneficiaries. When a loved one passes away and leaves behind a last will and testament, there are vital steps that are required to be taken for the will to be probated and its…
