Is Joint Ownership For You? WORD OF CAUTION: Don’t think you’re protected just because your assets are held jointly with your spouse, child, or family member. Here are three reasons why you shouldn’t rely on joint ownership: Limited Power: While a joint account holder may be able to access your bank account to pay bills…
Documents You Need to Find After a Loved One Dies After a loved one dies, you need to gather the important documents that are necessary to settle their final affairs. While the documents required will vary depending on what your loved one owned and owed, below is a list of common documents you will need…
WHAT NOW? Since You Bought a New Home Now Is the Perfect Time to Review Your Existing Estate Plan. This is an excellent opportunity to make sure that the individuals you have appointed in the crucial roles of guardian, executor, agent, or trustee can still carry out those duties when the need arises. Over time,…
A Good Trustee Who Makes a Good Trustee? Not surprisingly, when choosing a trustee, the most critical characteristic is that they are great with finances and very trustworthy. Specifically, the trustee must manage the funds in accordance with your intent and instructions that are left in your trust. Consider whether he or she will honor…
What Are the Duties of an Executor? The duties of an executor, sometimes called a personal representative, is the person who is named in a will or appointed by the court and is responsible for probating the will and settling the estate. Depending on the state, an executor may work under court supervision or may…
How to Execute the Proper Estate Planning Documents? Execute the Proper Estate Planning Documents: A properly executed Will or Trust will allow you to state how you would like your assets to be transferred — and who will receive these assets — at your death. A Will or a Trust also lets you identify who…
How to Transfer Frequent Flyer Miles After Death Transfer Frequent Flyer Miles After Death: The main takeaway is that although airline policies may say they don’t allow miles transfers after death, employees often have the discretion to approve them. Still, there’s no sure way to know whether your airline will work with your loved ones…
Long Term Care Where Do You Start? Number one for your Long Term Care, you should develop a picture of how you want to be cared for once you need assistance. This includes renovations to your home so you can remain there as long as possible or determine whom you want to help you with…
What is an LLC Operating Agreement? An LLC Operating Agreement is the document where a Limited Liability Company memorializes its rules and structure. It’s perhaps the most crucial document an LLC creates, as it creates the unique roles and framework of a business. Every LLC should have one. Although many states do not require LLCs…
Forming an LLC Creating a Limited Liability Company (LLC) is a much easier process than creating a corporation and usually requires less preparation and paperwork. LLCs are under the authority of the state law. So the process of forming an LLC will depend on the state in which it is being filed. The majority of…