Important Things to Consider When Writing a Will

A Will is likely to be one of the most important documents you will prepare and sign in your lifetime. Taking the necessary precautions can prevent mistakes and misunderstandings, ensuring your wishes are acted upon after you pass away and reducing stress for your loved ones.

Estate Planning – More Than Just a Will

Effective Estate Planning involves more than just creating a Will. It includes preparing and executing tasks that manage an individual’s financial, legal, or medical affairs in the event of incapacitation or death. While a Will is a vital part of any Estate Plan, it is not the only important part.

Are Your Testamentary Wishes Really Protected?

It is widely accepted that preparing a valid Will ensures your testamentary wishes will be carried out upon your passing. However, there are instances where the estate may not be distributed as intended, despite a valid Will being in place.

Do You Know the Tax Effects on Your Estate Plan?

As the saying goes, “There are only two certainties in life: death and taxes.” Both can be costly, stressful, and time-consuming. Dealing with tax implications on estate planning, or in the event of someone’s passing, can add pressure if appropriate tax planning was not undertaken prior.

Beware: Tax Treatment of Assets in Testamentary Trusts

Not all trusts and trust distributions are created equal. There are many advantages and disadvantages to consider for each trust structure and its appropriateness for your individual situation. One major consideration is the tax treatment for income and assets in various trust structures.

Wills, Estate Planning, and Trusts

There are many components to creating a robust estate plan. It is much more than creating a Will. Ensuring the appropriate structures and strategies are in place is crucial to meet your intentions and individual situation.