If you’ve had an in-home caregiver helping you out in recent years, they may have become almost like family to you – maybe even closer than some family members. Understandably, you might want to include them as a beneficiary in your will. You have every right to do...
Estate Planning
Is a buy-sell agreement part of succession planning?
When you operate a business, you can’t stop planning for the future. Most of the time, that means focusing on the day-to-day operations and growth strategies – but you also need to give thought to a future where you are no longer present. This is where business...
Considerations when choosing the guardian of your children
Appointing someone as guardian of your child(ren) can be the most important decision you ever make. While everyone’s familial circumstances are unique, the bottom line is that every parent wants the best person possible to step into their roles once they can no longer...
What is a trustee’s fiduciary duty to the beneficiaries?
Being a trustee is a position of great responsibility – and a trustee also a legal obligation to continuously act in the best interests of the beneficiaries. Fail in that obligation and you could quickly find yourself at the center of a lawsuit as the beneficiaries...
What to know about the effect of capital gains tax on your heirs
If you’re beginning the estate planning process or possibly considering some modifications to your existing plan, one of your concerns is likely the tax ramifications of your decisions on the value of your estate (and, by extension, your beneficiaries). That’s why...
Choosing the right attorney-in-fact or agent
People may become vulnerable and dependent on others for a variety of reasons. In many cases, age is what renders someone incapable of managing their own affairs. Cognitive decline or medical challenges like Alzheimer's disease can leave people dependent on others for...
3 common high-net-worth estate planning mistakes
Estate planning is an effective way of planning your estate to better ensure that all your affairs are handled as per your wishes in the event of your death or incapacity. As such, it is important to handle the process with careful consideration and attention to...
Why could you use a payable-on-death account?
If you have a bank account, you can name a beneficiary in advance. Once you make this beneficiary designation, you have turned your account into a payable-on-death account. When you pass away, the beneficiary assumes control. This is often an important part of estate...
Can you use your will to divide life insurance?
One of your biggest assets is your life insurance policy. You know that life is unpredictable, but you wanted to ensure that you could provide for your family. So, when you and your spouse had your first child, you bought that life insurance policy and named your...
Charitable giving in your estate plan
Your estate plan can do more than protect your loved ones, you can use it to help others through charity. Including charitable wishes in estate planning is not complicated. Here is how you can do so: Use your will The first method you can use to include charitable...