Blog posts to stay educated and up to date on all things estate planning.
Do I Need to Re-Do My Pre-Existing Estate Plan?
At eLegacy, we think it is a good practice for people to put together an estate plan before they think they will actually need them.
Can I Help Finance My Grandchildren’s Education Through My Estate Plan?
Today, many parents consider a college education necessary for their children’s long-term financial stability. However, they often have a tough time figuring out how they will pay for it without going into debt, jeopardizing their standard of living, or raiding their retirement savings –
What Legal Documents Should an 18-Year-Old Have?
Turning 18 is an important milestone in anybody’s life. It is usually the age at which young men and women graduate from high school, and, if they so choose, to begin their college careers. Others start looking for “real” jobs, and many young people move out on their own for the first time.
How Often Should I Review My Estate Plan?
Here at eLegacy, we encourage people to put together an estate plan before they desperately need one. The last thing you want is to have to cobble some sort of plan together when you have been rushed to the hospital with a life-threatening condition, worrying about whether you have properly provided for your family.
When Do My Spouse and I Need Separate Estate Documents?
When you are married, and particularly if you have been married for a long time, you and your spouse will likely approach Estate Planning from your perspective as a couple. This is especially true when all or the vast majority of your assets–your home, bank accounts, personal property, investments–are assets owned by both you and your spouse together.
What is the Difference Between a Will and a Trust
Thinking about creating an estate plan can make your shoulders sag. The prospect of untangling a raft of legalese and making decisions about stuff you don’t want to think about (or understand very well) can descend upon your psyche like a large black cloud.
4 Estate Planning Documents You Should Consider
Nearly everyone can benefit from estate planning, not just those who have significant assets. That is because comprehensive estate planning is about making prudent decisions about what you want to happen with your life and your property in the event that you are either not around to make those decisions or are not capable of making those decisions for yourself.
When Should I Put Together An Estate Plan
Many people assume that estate planning is something they can put off until their later years. But that kind of thinking is short-sighted and risky. Not only is there no guarantee that you will make it to your later years, but putting off your estate planning means putting off implementing measures that need to be in place now. That’s because certain decisions may require you to take ongoing action (such as paying insurance premiums) if you want to protect yourself, your estate, and those you love in the future.
If I Create a Trust, How Do I Know My Instructions Will Be Followed
There may be multiple Grantors, multiple Trustees, and multiple Beneficiaries, but for purposes of this discussion, we will use the singular terms.
Leaving a trust to grandchildren: Can it wait until they’re adults?
If you’ve decided to leave a trust to your grandchildren, you have a number of options when it comes to passing on your legacy. If they’re still minors when you pass away, you’ll need to make sure there is a trustee involved that can carry out your wishes. If you want your grandchildren to have access to your assets only once they’ve reached adulthood, you can do that, too.
What happens if I don’t want my children to inherit money?
One reason many people want to create an estate plan is so that they can leave a legacy for their children. But what if you don’t want your adult children to inherit money?
Protect your assets through estate planning
Estate planning and asset protection go hand-in-hand. If you pass away, an estate plan ensures that your assets — whether that’s personal property, stocks, bonds and more — go where you want them to go.
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