There are many differences between a Will and a Living Trust. When clients begin the estate planning process, an initial decision to be made is whether to center the plan around one or the other, according to The Northside Sun’s article “Do You Have a Will or a Trust? Why?” According to the article, the AARP indicates that most people prefer to use a Living Trust. One of the many differences between a Will and a Living Trust is that a Will operates only after your death. It i

Estate planning with a will (as opposed to a living trust) often carries with it the need to involve a court process called probate to transfer assets out of a deceased person’s name after they pass away. In states such as California, probate is a lengthy, public, and expensive process that most people are highly motivated to avoid. That is why I love estate planning with transfer on death accounts as a probate avoidance tool. By changing some accounts to transfer on death (T

A good estate planning attorney can save your family the stress and expense of court and family feuds that often arise when planning is avoided or done in a hasty fashion. A solid plan that you create (and not the default one provided by the state) will provide tremendous peace of mind to those who are left behind. The sorrow of losing a loved one is more than enough for a family to experience, says NewsGram, in the article “4 Things You Must Know About Estate Planning.” Ther

You have likely heard the words “will” and “trust” as part of estate planning. What are the differences between the two, and how do you know which one you need? A will is the most commonly used legal document for leaving instructions about your property after you die. It is also used to name an executor — the person who is in charge of your assets, their distribution, paying taxes and any estate expenses after you die. The will is also very important if you have minor childre

Estate planning for farmers and ranchers can involve many pitfalls for the unwary. First mistake: some farmers think they don’t have to do anything because the federal estate tax exemption is so high, and their net worth is well under the limit. However, just because the estate tax exemption has doubled until 2025, does not mean they don’t need estate planning. The article “5 Estate Planning Mistakes You Don’t Want To Make” from Ag Web takes readers through some big mistakes

Life insurance is great tool for estate planning. However, there are nuances that sometimes get overlooked. WTOP’s recent article, “4 questions to ask to maximize your life insurance benefits” focuses on key questions that need to be asked about life insurance. Assessing the Need Properly The amount of life insurance you need for estate planning is unique to each person’s financial and family circumstances. Remember that life insurance death benefits are used for more than ju

If you think of estate planning as a gift to your loved ones, and not an obligation, then you will understand why the start of a new year is the perfect time to give your family the peace of mind that an estate plan can bring. The article “Give the gift of estate planning to loved ones this holiday season” from the Brainerd Dispatch describes how stress and guilt for the family can be alleviated just by having a good estate plan in place. Your estate plan will provide your fa