Caldwell Law is committed to providing our clients with resources to help them best understand their estate planning. our blog posts are meant to encourage you to think critically about various aspects of estate planning and to strive to learn more.
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You finally crossed “getting your estate plan done” off your list, and you’ve (rightly) breathed a huge sigh of relief. By tackling this challenge, you’ve not only established protections for your loved ones and legacy, but you’ve also freed up some important “mental space” that had previously been occupied. Once you create the documents that make up your estate plan, your estate planning attorney will prepare a binder containing all pertinent documentation. This estate planning
While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being a personal representative requires a high level of organization, foresight, and attention to detail to meet all responsibilities and ensure that all beneficiaries receive the assets to which they are entitled. If you’ve found yourself in the position of “overwhelmed executor,” here are some tips to lighten the load.
As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often want to provide well for their future. However, this can be difficult if proper precautions aren’t set in place. If you’re planning to include the grandchildren in your will, here are five potential dangers to watch for, and ways you can avoid them. 1. Including no age stipulation. We have no idea how old
There’s an entire category of commonly-overlooked legacy to consider – digital assets. Don’t worry if you didn’t consider these assets when made your will or trust – it’s surprisingly common and, luckily, easy to correct. What are digital assets? They include: Your photos (yes, all those selfies are a digital asset) Files stored in the cloud or on your local computer Virtual currency accounts URLs Social media profiles (Facebook, LinkedIn, etc.) Device backups Databases Digital
When establishing a trust, you need to give serious thought to choosing your successor trustee—the person who will administer your trust once you’re no longer able to do so. This individual ideally should be: Someone you trust implicitly. Someone who is organized, responsible and meticulous. Someone who can remain steadfast to your wishes in the face of family disagreements and other disputes regarding the trust. That said, even the most capable, well-intentioned successor trustees can