If you create a last will and testament to handle your estate and last wishes, you probably assume that document is ironclad and will be immune to any legal challenge. After all, it’s called a last will and testament – meaning it should be the final say in how your assets will...
Estate planning can be an important tool for accomplishing an individual’s charitable goals. Charitable giving via an estate plan provides the inherent rewards of supporting causes you believe in while also allowing the donor to benefit from tax deductions.
General concerns about charitable giving
Leaving an inheritance for your family is one of the best ways to create an enduring legacy and honor the ones you love. But not all assets are created equal. There are complexities and uncertainties attached to many assets that make it both difficult to create an estate plan and execute it...
Having a comprehensive estate plan is essential to preparing for your and your family’s future. But not everyone knows when to create – or update – one. On top of that, the topics that come up during this process are often considered to be morbid. This leads many individuals to avoid the...
Estate planning is a challenge, especially when done on behalf of a child or other relative with special needs. There are different considerations involved and therefore different objectives compared to standard estate planning. If you have a child or loved one with a disability or mental limitation, you...
Choosing an executor is one of the most important decisions you will make as you create your comprehensive estate plan. The executor’s responsibilities are numerous and must be fulfilled diligently if your estate is to be properly managed. Not everyone is up to the task or even willing to serve...
Ideally, a last will and testament will accurately represent the final wishes of the testator (that is, the individual who executes the will). But in some cases, there is evidence that suggests the will is invalid. Where there is reason to suspect the legitimacy of a will, there is a possibility that...
While estate plans are thought of primarily as means to pass on property to relatives, they can also be used to provide gifts and charitable donations to those outside the family. Using an estate plan for gifting and charitable giving is a rather common occurrence. These plans can even reduce...
Executors, trustees, and other individuals who play a role in estate planning are required to exercise what are known as fiduciary duties. These obligations are among the most serious, so violating them can mean major repercussions. Whether you’re a fiduciary or someone who benefits from an estate, it’s critical to understand the...
