Non-Probate Assets: Some assets will pass automatically even if a Will or Trust says otherwise. Therefore, it is important to understand how these work so that an Estate Plan can function as intended. Beneficiary Designations: Some assets are designed to pass through beneficiary designations or payable on death instructions given to banks, insurance companies and […]
Last Will and Testament: A Will is an important part of every Estate Plan. Although many Estate Plans include a Trust, the Will does things that no other legal document can. A Will is a legal document that does several things: Executor: It names an Executor to be in charge of your estate if your […]
Wills and Trusts can Be Ineffective If Designations are Ignored People, including attorneys, often fail to realize that beneficiary designations are controlled by what a Will or Trust says. The case of Wiley is an excellent example. He had a plan that his kids should share equally. However, he designated one of his sons to […]