No matter who you plan to leave your personal belongings and assets to once you die, you will likely need a will to make your wishes clear. One part of crafting a will includes choosing an executor. This person is responsible for paying off your debts and helping your...
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Estate Planning
Pros and cons of a beneficiary deed
After working hard and acquiring property and assets, what happens to it upon your death? With life expectancy rates lowering for the first time in decades, those end-of-life decisions remain more important than ever. When it comes to real estate, you have options in...
Why should younger people have a will?
Too many people put off creating a will until they are nearing retirement. For some people, this is because they do not like to think about death. Others may delay because they do not realize the importance of such a document. There are many reasons why it is a good...
Common missteps in power of attorney documents
A power of attorney (POA) document is a powerful tool that many Americans use in their estate plans. According to Caring.com, 18- to 34-year-olds with an estate plan increased by 50 percent in the past two years. Unfortunately, many people who attempt to use a power...
What is the difference between a will and a trust?
Creating an estate plan is the best way to protect your assets when you are gone. It allows you to decide what happens to your property when you pass. There are many different elements to an estate plan that you can customize to suit your needs and desires, but the...
Are your 20s too early to start an estate plan?
There is a common misconception that writing a will is something that only rich older people do. However, young people also have assets to pass on and family worth considering. Your 20s are perfect years to start the estate planning process. When you understand how a...
Reasons for parents to create a will
Parents who are aware they should create a will may worry about approaching the task. They feel frightened over hashing out complex, legal details in a formal setting. The good news is they can jettison these fears. A proper estate planner has compassion and knows how...
Estate planning can protect your heirs and your assets
Every state has laws governing probate or the legal process that validates and distributes a will's contents. For example, Arkansas law dictates that all estates with a total value exceeding $100,000, outstanding creditor debts, or active will contests, must go...
What to look for in a power of attorney
Picking a power of attorney is a critical step in estate planning. This essential designee makes medical decisions on your behalf when you cannot. Consider whom you would like to serve in this role. Then, hire an estate planning professional to make your selection...
Did you wait too long to make an estate plan?
Many people spend their working years without thinking about estate planning. The need to do so may seem far in the future, or the subject of death is uncomfortable for them to address. However, years go by quickly. If you are someone who waited to plan, you may...