What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult children dies before the parents, who gets that contingent beneficiary’s share?
What Is a Living Trust?
As a legal adult after attaining the age of 18, your child should have in place several legal documents that will allow you to provide support and obtain information, if something unexpected happens to your child.
One important aspect of estate planning is deciding what will happen to your home after you die. The answer might be fairly cut and dry if the home is fully paid for. If it’s not, though, you’ll need to consider the financial ramifications for your estate and for the person who inherits the home.
One of the biggest conundrums of estate planning is considering how, or even if, you can give money or property to your heirs in a manner that will help them.
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one’s affairs.
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure that your estate planning is up to date.
Inherited assets come with benefits, along with some burdens
No one relishes the thought of the day they pass away and leave all their worldly possessions behind. However, it’s a certainty that no one can avoid. Thankfully, you have options for planning for what happens to your estate, including a will or a family trust.
Most of us associate 529 accounts as college savings vehicles. They’re flexible, allowing you to transfer assets to anyone, including yourself, for the express purpose of furthering the education of your beneficiary. However, did you know that a 529 can also be a powerful estate planning tool?
