Category: What is …

Yes, no, maybe … If you ask a group of attorneys, most will say that everyone needs to have a last will and testament. They’re not wrong but they are being a little naive. 6 out of 10 American adults don’t have a will.  Even if you are in the 40% with a will, you are…

Do you need help demystifying the terms and concepts used by some attorneys and estate planners when talking about wills, trusts, and estate planning?  In this series, we aim to break down some of these topics to make them easier to understand without having to go to law school. Check out the following: What is…

A trust is a legal arrangement where assets are held for the benefit of one or more beneficiaries.  The person that creates the trust is called the “settlor” or “grantor.”  The trust can hold money, investments, real estate or other property. The trust agreement will name one or more trustees who have certain duties to…

Important information that your family will need is missing from your will.  Most wills only address three basic issues: (1) who will administer your estate (the executor/executrix), (2) how will your remaining assets be distributed – usually as percentages or specifics gifts, and (3) if you have minor children, who will be appointed guardian.  While…

A “last will and testament” or “will” is a legal document that an individual creates in order to specify how to handle their affairs when they pass away.  Your “estate” is all of the money and property that you have at the time of your death.  The specific requirements to create a valid will are…