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Wills

The easiest way to make sure that a person's property is distributed after his death in keeping with his wishes is for him to prepare a will. A will is a legal document that explains where a person wants or does not want his property to go...

Trust Elements - Trust Property - II

Trust Elements - Trust Property - II

A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the...

Letters of Instruction

Your will should not mention each one of your possessions because their value and nature change as time goes on. Revising your will upon every change would be both inconvenient and costly. Instead, your will should use general language in...

Beneficiaries -- Issues in Choosing Professional Advisers

A beneficiary should ask himself whether he wants to (or can) tend to the estate himself or whether he would rather delegate the responsibility to someone else. The larger the inheritance, the more likely a beneficiary will need professional...

Co-Ownership Myths - III

Co-Ownership Myths - III

One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a...