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It doesn’t matter if you are planning to get married, a newly married couple or have been married for the years you need an estate
The basic document while planning an estate is drafting a will that sets the guidelines for the distribution of your assets to your heirs in your chosen way in the supervision of your chosen person. The person or organization receiving your assets are known as a beneficiary. You can name anyone except the person who acts as your witness while signing your will. While it is expected that your heir will outlive you, it needs not to happen always. Hence, you need to be careful while drafting your will and placing the provisions that your estate needs not to face probate for distribution. Estate Planning- The beneficiary can either be a single individual or multiple individual(s). In case of multiple
While talking about estate planning, many people think that it is meant only for the old and the wealthy people, however, irrespective of the age and the economic value of the assets an individual own estate planning must be done by everyone. Estate planning is not only about the dispensing of the assets after your demise but also about planning for yourself and your family while you are alive. Every individual requires different estate planning depending on the type and value of their estate. It may be a will or a trust, which you can decide by discussing with your attorney. Estate Planning- While most people think that estate planning means creating a will, however, it is much more than
Being parents has always been a tough job. Taking care of your children and making sure that they are safe, has always been the primary cause of concern for all the parents. The same is the case in estate planning as well. For those who have children, they need to make sure that their estate plan primarily includes the financial stability of their children, especially when they are minors. Thus, this article is here to help such parents who need to come up with the best estate plan for their children’s safe future. Some Tips for Estate Planning for Parents There are some very important points that you must consider while taking care of estate planning if you have offspring
After getting married one of the most important legal decisions that a couple takes is of estate planning. Estate planning is a way of ensuring that after you are gone, your spouse and your children are well taken care of. Thus, this article pertains to the various elements that a married couple must consider while estate planning. Proper and well-documented planning is the best way to distribute your assets among your loved ones. What Is Estate Planning? Estate planning is a legal procedure through which you can distribute all your belongings and assets among family members and friends who you intend to. Since it has to be done legally, care must be taken while distributing the assets to avoid a
As the name suggests estate planning is basically a plan to deal with your estate. Estate planning is an essential tool to manage your assets when you are alive and finally when you die. This planning primarily deals with the aftermath of your death. Like what would happen to your assets after your death or who would you give it to. All these things are decided through estate planning. What Does an Estate Consist Of? Estate is actually everything that you own. It can be your car or your life insurance. Your personal possessions and savings account all come under the umbrella of estate. Obviously, all the property that you own also is part of your estate. The Significance of