3 ways in which Adoption impacts Estate Planning
Every year, National Adoption Month is observed in November. For this year’s National Adoption Month, we discuss 3 ways in which Adoption Impacts Estate Planning. Before we jump to the topic under discussion, let us first learn what a ‘blended’ family means. A Blended Family or a Step Family or a Complex Family is one […]
4 Important facts about Adoption and Estate Planning
Adoption and Estate Planning: November is National Adoption Month. In this post, you will learn how Adoption affects your Estate Plan. By now, you must be knowing that any life event calls for a change in your Estate Plan. Adoption is one such life event that needs updating your Estate Planning. Around 135,000 children are […]
What is a Digital Will?
A Will is no longer a legal document to pass your worldly possessions. Digital Wills are wills that determine the fate of a person’s Digital Assets once they die. In the digital age, making arrangements for what must happen to an individual’s Digital Assets is as important as making arrangements for their physical and tangible […]
Why your Executor might need access to your Digital Assets
After you die, the Executor of your Estate might need access to your Digital Assets. In most states, Executors and Legal Authorities cannot access your Digital Assets unless you have made specific arrangements for them to access it. You can leave instructions as to who must handle your Digital Assets and what must happen to […]
Trustee vs. Executor: What’s the Difference?
Trustees and executors are both fiduciaries – in charge of someone else’s money. Both of them are responsible for the proper distribution of the estate assets. While in this way they may seem similar, there are various reasons why for the stark difference between a trustee and an executor. Responsibilities of Trustee vs Executor Both […]
What Does an Executor of a Will Do?
Estate planning plays a crucial role in everyone’s life to help protect your loved ones and your assets long after you’re gone. However, this cannot be possible unless you have an executor. And before we know what an executor does, it is important to understand what an executor of a will is. Simply put, an […]
What an Executor Cannot Do
The executor’s purpose is to ensure the distribution of the decedent’s estate assets to the beneficiaries in accordance with the decedent’s wishes and the law. As a rule, the executor is accountable to the estate, the beneficiaries, and the probate court. This ensures that the executor has enough power to settle the estate, but not […]
Irrevocable Beneficiary: Everything you need to know
Estate planning plays an important role in how we plan our lives and look out for our loved ones even after we’re gone. The purpose of creating an estate plan is to ensure that those we care about – our beneficiaries – continue to the receive the benefits from the estate that we have built […]
What is a Contingent Beneficiary?
Estate planning plays an important role in everyone’s life to ensure that everything you’ve worked towards is taken care of exactly how you want even after you pass away. And adding contingent beneficiaries is an important part of your estate planning process. This lets the courts and your executor know what to do with your […]
Primary Beneficiary: Everything You Need to Know
Estate Planning plays an important role in everyone’s life – it is the only way to ensure your assets and loved ones are protected even after you pass away. However, this can be possible only if you name beneficiaries or primary beneficiaries in your estate plan. What you’ll learn: What is a primary beneficiary? Why […]
