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Posts tagged "Estate Planning"

Life expectancy keeps dropping. Are you prepared?

The general assumption in the modern world is that life expectancy should keep going up. As medicine advances, people live longer. We haven't had a war on the scale of the World Wars in generations, diseases are more contained than they have been in the past and technology has improved at a simply astounding rate.

The trouble with selling your home as part of your estate plan

In some cases, parents do not want to leave their homes to their children. They feel like it would just be a burden for the kids to have to decide if they want to keep it or sell it -- not to mention going through with the sale and splitting up the money. It can even lead to estate disputes.

Tell your children why you decided to use a trust

If you decide to use a trust for your assets, it can prevent the children from using those assets in the way that they want. For instance, a trust could stipulate that the child does not get any money until age 30 or that the money has to be used to pay for college tuition.

Estate plans and the role of sibling rivalry

If you think that your estate plan just needs to address your assets, it's time to dig a bit deeper. To create an effective plan, you not only need to pass your assets on to your heirs, but you need to do it in a way that minimizes conflict. You want them to have strong family ties for the rest of their lives, after all, and you want to avoid litigation and estate disputes if possible.

What can children buy with an educational trust?

You're thinking of setting up an educational trust for your grandchildren. You know that you can put age limits on it, preventing the children from using it until they turn 18. You also know that you can limit it so that the money can only go toward their education.

2 types of guardians: Understanding the difference

If you are thinking of picking a guardian for your children as part of your estate planning process, you need to be aware that there are two different types. It is important to specify exactly what the guardian's role is intended to be and what powers he or she legally gets in the event of your passing.

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