Most people understand that having an estate plan benefits them and their loved ones. However, many individuals do not initiate the estate planning process because they do not fully understand the nuances of foundational estate planning tools such as a will and a...
When you establish a trust, you nominate someone to be the trustee. If you are creating a revocable living trust, you will likely be the initial trustee. You will also want to name successors or backup trustees to step in and manage the trust’s affairs if you can no...
Beneficiary designations take precedence for distribution over other documents in an estate plan. The individual or entity you name as an account beneficiary will automatically receive the money or account, usually without it passing through the court-supervised...
