While a will is the most basic and common component of any estate plan, it does have several flaws. For example, a will might be contested for several reasons, such as the discovery of duplicate wills or the suspicion of undue influence. And, beneficiaries often have...
Estate Planning
Protecting family business assets: The crucial role of trusts
Your family business likely culminated from years of hard work and dedication. As such, it's only fitting to prioritize its protection and smooth transition to your heirs when making your estate plans. Without proper planning, family businesses can be vulnerable to...
5 Kinds of Trusts
When making an estate plan, many people stop with a will. While wills can help instruct how an estate should be distributed and who should benefit, there are some disadvantages to wills. For example, an estate may be subjected to estate taxes if a will is used. And,...
Challenges Your Kids May Face After Receiving a Large Inheritance
Inheritances can bring about life-changing opportunities and financial security, but they also come with often unexpected challenges. When children receive a substantial inheritance, they might encounter various emotional, psychological, and practical hurdles. Below...
Should a Child’s Guardian and Trustee Be the Same Person?
When you are a parent, a huge part of estate planning tends to focus on the needs of your minor children. Most parents find it very difficult to contemplate the idea that their children might grow up without them, so the decision about who to name as their children’s...
