Drawing From Retirement Funds: What You Need To Know

Conflicts Over The Right To Inherit When you make a will, you affect your family's future, which is usually a sensitive subject. So it's advisable to begin by finding out what kinds of issues may arise when making decisions about who and under what terms your inheritors will receive a share of the inheritance. Also,…

There are many types of end-of-life insurance coverage available today. The determining feature of the kinds of burial products and funeral services available through your insurance coverage will be based on the amount of the monthly premium you are willing to pay now. This article covers low-to-moderate expense burial insurance coverage. Burial Insurance - Estate…

When you draw up a will as part of your estate plan, there may come a time when you quite naturally want to change it. Other times, a person may wish to revoke his will, or it may be contested. How Do I Change My Will? There Are Two Ways To Change A Will You…

Estate Planning For Those Who Choose Avoiding Death Once dismissed as fringe science at best, public awareness of cryonics has risen recently, although widespread acceptance remains a distant concept. The prospect of cheating death through cryogenic freezing in the hope of being resurrected once the requisite technology has become more developed. How this will change…

The importance of preparing a will cannot be overstated. This section will discuss what happens if a person dies without a will. Each state has "intestacy" statutes determining who will receive your property at death if you die without a will. Under these laws (which vary from state to state), your property will pass to…

Advance Health Care Directive (Living Will) I hear stories about people in a coma and on life support equipment for months and even years. Can I do anything to make sure that doesn't happen to me? The answer is yes. It is called end-of-life planning. Unfortunately, some people would rather not engage in such planning,…

In general, estate and trust lawyers assist their clients with planning where their assets will go after death and under what terms and conditions. The larger the estate, the more extensive the legal work becomes and the higher the legal fees. Types of Estate and Trust Lawyers Estate and Trust lawyers also go by Wills…

Certified Financial & Estate Planner (CFP) Certification, training, and experience The central goal of a CFP is to develop a financial plan based on the client's financial circumstances and objectives. The Certified Financial Planner Board of Standards issues the CFP certification. Certified Financial Planners (CFP) are awarded to financial planners who meet specific professional criteria,…

What Is Joint Tenancy? A joint tenancy is a legal designation that is used to designate shared ownership. The key feature is the "right of survivorship." This means that while the joint tenants equally share ownership during their lifetimes, when one joint tenant dies, their interest is extinguished, leaving the surviving joint tenant(s) with sole…

What is a Last Will and Testament? A "will," also sometimes referred to as one's "last will and testament," is a legal document that disposes of your "estate" upon your death. Your "estate" is all your money, personal and real property. If you have a simple estate plan (such as the desire to leave your…

What Is A Living Trust? A living trust possesses ownership rights and legal title to the assets contained in the trust and must be managed in accordance with the terms set out in the trust documents. The trust documents identifies the specific assets held in trust and the persons identity entrusted to manage and distribute…

What to Know When Naming an Executor An Executor is a person named by a testator (someone who has made a valid will) to manage the concluding affairs of the deceased such as making sure debts are paid, accounts are closed, and the designated beneficiaries receive their inheritance. When Family is Chosen as Executors In…

Keeping Your Estate Plan Current Unsurprisingly, your estate planning should include preparing or updating a will and trust. These and other essential tasks are discussed below. If you have other concerns, contact an estate planning attorney in your area.  Update Your Will or Trust Regularly The last will and testament permit you to determine what…

Avoiding Probate Through Estate Planning Estate planning will allow you to maximize your return on existing assets, minimize estate taxes, avoid probate, and pass your assets on to your intended heirs and beneficiaries upon your passing or incapacity. Understanding Probate The definition of probate According to the Legal Information Institute, probate is the judicial process…