According to CNBC, only about 33 percent of Americans have put together a will, which is typically one of the first steps in starting your estate plan. When you create a will as part of the estate planning process, this may involve naming a legal guardian for your...
Estate Planning
Who inherits your estate if you do not have a will?
Writing a will is one of the most basic components of an estate plan. However, according to a survey by Caring.com, a senior living referral service, nearly two-thirds of U.S. adults do not have a will. What happens to your estate if you die in Washington state...
What end-of-life care info should your estate plan include?
Contemplating end-of-life decisions can be challenging, but it is an important aspect of estate planning. By making these decisions now, you provide a roadmap that guides your loved ones and healthcare providers if you become incapable of expressing your wishes....
Do your loved ones have what they need after you die?
Hashing out plans for your death is not something you should take lightly. It involves a lot of thinking and planning to make the experience easier for your loved ones both financially and emotionally. There are some actions you should take after completing your...
Why should new parents have a will?
Bringing a new child into your family is a time of great joy and celebration. The last thing most people think of is death. However, new parents need to start thinking about the best interest of their child, and this includes figuring out what to do in the event that...
What can a will not do?
A will is a great estate planning document, but it does have some limitations. There are specific items a will cannot handle. Typically, your will gives personal information and provides for assets not otherwise handled through other legal means. So, there are some...
What are the different types of trusts?
A trust is a common document in an estate plan. You can use it to create a definitive plan for your assets and protect your wishes for your estate. It comes with many benefits, and many people use a trust as a means to bypass probate. However, there are many kinds...
What does it mean to sue or contest a trust?
Whoever you select to oversee your trust will owe a fiduciary duty to the beneficiaries of your trust. Hopefully, your trustee will not encounter any legal issues while administering your trust. Still, sometimes a trustee cannot avoid a date in court. Smart Asset...
Should you agree to be a trustee of a special needs trust?
If you have a friend who has a relative with a disability or other special needs, your friend may have asked you to be a trustee of a special needs trust. Before you agree to do so, though, you should know exactly what the role involves. A special needs trust is a...
New law could ease financial burden of healthcare on some seniors
About two-thirds of people who file for bankruptcy in America do so because of medical debts. Older Americans, who face high healthcare costs and often live on fixed incomes, are particularly vulnerable. A new law that expands Washington's charity care program may...