What Are The Key Roles Involved In Estate Planning?
Most people put a lot of effort into providing a comfortable life for their families. The primary advantage of Estate planning is that it enables you to support your family even after passing away. With careful preparation, they will be able to maintain the level of living they currently enjoy. An estate plan, however, has […]
Things you can and cannot do with a power of attorney
Creating a Power of Attorney is an important yet intimidating part of estate planning. No one wants to imagine themselves incapable of making decisions regarding their own lives anymore, but that is exactly what the power of attorney ensures. What is Power of attorney? A Power of Attorney is a legal authorization that allows an […]
How to Find Out If an Estate Has Been Settled?
Estate settlement can be a long and tiresome procedure. A lot of factors go into settling an estate. It involves filing the will and notifying the necessary people, paying the debts of the deceased, filing for final tax returns, distributing the assets per the Will of the deceased and more. Figuring out if the estate […]
Challenges In Estate Planning With Cryptocurrency
Cryptocurrency has seen continuous rises and dips in value since its inception but the human desire to be in total control of financial funds has never let it down in terms of popularity. People now understand that Cryptocurrency is a valuable asset(intangible) and like tangible assets need to be secured for the future. Individuals are […]
Understanding Cryptocurrency and Inheritance
Cryptocurrency is a Digital Asset that is built on Blockchain technology and only has Online existence. Ledger is the term used for the computerized database that handles transaction records backed by Asymmetric Cryptography for security. Used for transactions online, the IRS(Internal Review Service) considers cryptocurrency as a financial asset. In this post you will learn […]
Estate Planning vs. Will: What’s the Difference?
Estate Planning is a procedure of arranging for the management and distribution of assets after the death or incapacitation of the owner. An Estate Plan includes several tools like a Will, a Trust, an Advanced Directive, or Power of Attorney applicable on financial assets like Bank Accounts, Jewelry, Stocks, Life Insurance, Property, Vehicles, and Digital […]
What Role Does An Executor Of Will play?
Becoming an executor of someone’s Will is an honour but is also a long and laborious task. The executor of a Will is legally responsible for sorting out finances of the deceased, from making sure debts and taxes are being paid on time to making sure all the instructions and duties mentioned in the written […]
How To Know If An Estate Has Been Settled? Is It A Public Record?
When the court confirms the final report from the estate’s appointed representative, generally an executor or administrator, the estate is settled. Payment of the deceased’s obligations, final tax returns, and the transfer and sale of assets are all part of the estate settlement process, with property and sale proceeds going to the deceased’s heirs or […]
Why is Power of Attorney Important?
You can conveniently utilize a power of attorney to delegate management of your digital assets to a trustworthy agent. If you are concerned and unsure about what will happen to your digital assets if you become incapacitated, you may also offer your agent login credentials and instructions on how to handle your accounts. Consider how […]
4 benefits of using Insurance in Estate Planning
Estate planning is a critical component of a complete financial plan for wealth protection, and life insurance may help in various ways, especially if you pass away unexpectedly and early. It helps by allowing you to access emergency cash in the case of a significant life event, such as the need for expensive medical treatment. […]
