Jasz
VIP Contributor
The most important part of estate planning is to have a will. A will is a legal document that tells the world what you want done with your property after you die. The last thing people think about when it comes to estate planning is wills — but there are many other things that can be addressed in an estate plan that could help get your affairs in order. Here are five things you probably didn't know about estate planning:
1. A living trust can protect your assets from creditors and family members.
2. You can transfer assets to spouses or other family members through a revocable living trust instead of going through probate court, where you might have to reveal all of your assets and debts to the court.
3. A power of attorney can give someone else the right to make financial decisions for you if you become incapacitated, like in an accident or illness that requires prolonged medical treatment away from home.
4. A trust deed allows you to pass on property without having to go through probate court — which means it won't take as long to close on the sale of any real estate (or other property) in your name after your death as it would if you passed away without a trust deed in place.
1. A living trust can protect your assets from creditors and family members.
2. You can transfer assets to spouses or other family members through a revocable living trust instead of going through probate court, where you might have to reveal all of your assets and debts to the court.
3. A power of attorney can give someone else the right to make financial decisions for you if you become incapacitated, like in an accident or illness that requires prolonged medical treatment away from home.
4. A trust deed allows you to pass on property without having to go through probate court — which means it won't take as long to close on the sale of any real estate (or other property) in your name after your death as it would if you passed away without a trust deed in place.
