How Do I Create an Estate Plan with an Only Child?
Raising an only child can still sometimes present unique challenges especially in the area of estate planning.
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Raising an only child can still sometimes present unique challenges especially in the area of estate planning.
Planning for today’s diverse family structures now encompasses more than biological heirs when it comes to defining who is in your dynasty trust.
You need to have an estate plan that reflects and considers the current state of the business, your finances, and your long-term goals.
What you need to consider if you are left out of your parent’s estate plan.
Just because you took the time to create a revocable living trust, your estate will not automatically avoid probate.
This article outlines how to pick a trustee, Executor, and Agent under a Power of Attorney in the context of your estate plan.
You will want to name successors or backup trustees to step in and manage the trust’s affairs if you can no longer manage the trust yourself.
Because successor trustees hold great responsibility, you should choose them carefully.
A conserverator is granted authority through the court to handle your financial affairs on your behalf if you cannot do so on your own.
Deciding who will be tasked with caring for your minor child or managing funds for their benefit is an important decision.
