This week’s Word to the Wise for estate planning is: Intestate: When a person dies without a will or trust, the person dies “intestate,” meaning the person’s estate is divided up based on state law. Why does “intestate” matter in estate planning? Few of us like the idea of the government directing our personal affairs
This week’s Word to the Wise is Heirs: The people who can benefit from your estate plan. Identifying your heirs is easy, right? Sometimes, yes. But sometimes, no. And you may have different ideas about what different heirs get after you die. So, it matters to fully identify all of your heirs. Going
This week’s Word to the Wise is: Heart of the Estate: The section of your plan that divides your estate among your chosen heirs. Why should you know your “Heart of the Estate?” With LegacyWise’s estate-planning process, you identify your entire estate—everything you own—and then first decide any “off the top” gifts to show
This week’s Word to the Wise is Digital Representative/Trustee: The trusted person selected by you to manage your digital assets after you die. Why does a digital representative/trustee matter in estate planning? When someone dies, the only way their digital assets can be accessed is if they have shared logins and passwords and
This week’s Word to the Wise is: Guardian: A responsible adult who would care for your children if you are unable. Why identify a guardian for your children now? Your children are your most important priority. If you become incapacitated in some way, you want someone trustworthy to care for them in your place.