Creating a will is an essential part of estate planning, even if you don't have a lot of assets. A will is a legal document that outlines how you want your assets to be distributed after your death. Here are some of the benefits of creating a will: Caution: For those who have more than a modest estate (approximately $150,000 or more or if real estate is owned), a trust-based estate plan will likely be a better option. Except for modest estates, wills typically need to be administered … [Read more...] about The Benefits (and some downsides) of Creating a Will

In recent years, many people have chosen to forego the traditional will and instead, have opted for a living trust. In many instances, it’s the best choice because of the many benefits it offers. But is it right for everyone? We'll take a look at both options in order to help you determine whether a traditional will or a living trust is best for your specific needs. First, let’s define each document. A will is a legal document used to designate beneficiaries for a deceased person’s assets. … [Read more...] about A Will or a Living Trust?