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Estate planning can be defined as the legal process through which you decide how your finances and other assets will be handled after you pass.

Estate planning is a complex process that helps accomplish many goals, including preparing for your future and ensuring that your loved ones are taken care of in the event of your death. A pour-over will could be a great addition to your estate plan. However, many people do not understand what a pour-over will is.

Even if you know you need an estate plan in place, it’s often hard to know exactly what documents you’ll need and how to set them up to ensure your loved ones are taken care of after you pass away. Most people begin estate planning by writing a simple will, and while this is a great first step, it often won’t give you the protections and flexibility that a trust can.

While it may be tempting to use DIY estate planning tools to save some money, doing so carries some risks and pitfalls. Estate planning requires careful consideration of a number of factors and in-depth knowledge of state laws.

If you are thinking about creating an estate plan, you have probably come across such terms as “will” and “trust.” However, you may not understand the difference between a will and trust.

When it comes to estate planning, many people are familiar with trusts as a way to safeguard and transfer property such as real estate and investments. A gun trust is a separate entity all together and another valuable tool that offers tremendous advantages. Its benefits apply not only after your death, but also during your lifetime.

Let’s face it – talking about death isn’t exactly the most enjoyable topic. Most people like to imagine it happens when one is old, wrinkly, and sleeping soundly while snuggled in bed.

Having an updated last will and testament is more important than ever, especially now. However, a will that is poorly created or not frequently updated can be vulnerable to contestation.

Many Americans spend a lot of time and effort in managing their finances. While most are worried about how the coronavirus (COVID-19) will impact their income—whether that’s because they are temporarily furloughed, find themselves suddenly without a job, or watching their investment and retirement accounts dwindle—there is another way COVID-19 can wreak havoc on American’s finances: lack of incapacity planning.

As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In fact, now is a great time to be proactive and plan ahead should you or a loved one fall ill.