These three legal documents have similar names but they are quite different in terms of the estate planning goals they help you accomplish. A will directs how a person’s estate is to be administered and how his or her assets will be distributed after death. The person who creates the will is called the Testator while the individual who settles the estate is known as the Executor. Naming the Executor and specifying “who gets what” in advance can help eliminate family infight

When we think about heirs fighting over assets, it is the big ticket items that typically come to mind, such as the family home, investments, bank accounts and the like. However, it is often items of sentimental value—a mother’s necklace, for example, or a father’s watch—that cause the most contention. This is particularly true in the case of blended families. Worse, battles over sentimental assets often lead to hard feelings that can last for years or even permanently sever

The statistics are rather alarming. In 2005, 50 percent of Americans had a will; today, only 32 percent of us have one. Meanwhile, only one in three Americans over the age of 55 has a durable power of attorney, and a mere 41 percent of this same demographic has advance health care directives. Why is this? According to statistics culled from a range of sources, Americans lack estate plans for the following reasons: 47 percent say “they haven’t gotten around to it” 29 percent t

When it comes to estate planning, beneficiary designations are a critical yet often overlooked detail. These designations determine who will receive your assets, such as retirement accounts, life insurance policies, and bank accounts, upon your death. Keeping them current is vital to ensuring your wishes are honored and your estate plan functions smoothly. Many people don’t realize that beneficiary designations take precedence over other estate planning documents, such as wil

Many people come into our office saying they “just need a simple will.” It’s a phrase we hear all the time—and we understand the intention. You want something straightforward, and easy to understand. Something that ensures your belongings go to the right people when you pass. But in today’s world, “simple” doesn’t always mean sufficient. In fact, in many cases, relying on a basic Will alone can lead to more confusion, cost, and conflict than you ever intended. Did you know yo