When it comes to estate planning, a common question our workshop participants pose is whether they need a will or a trust. Both documents serve to outline your wishes for the distribution of your assets and the care of your children, but they operate in different ways and offer distinct advantages. LegacyWise helps you understand these differences as you create your own estate documents, making informed decisions that best suit your family’s needs. What is

This week’s Word to the Wise for estate planning is: Probate: A public court process by which a will is viewed, an estate is itemized and valued, and assets are divided under the supervision of a judge. Why does “probate” matter in estate planning? It matters because you may not want it to happen after you die. Probate arises one of two ways. You die without an estate plan. Or you die with a will.

The Advantages of an Estate SherpaSM Using an Estate Sherpa gives advantages for ensuring key documents work precisely as you expect. Mountain climbing and estate planning may not seem related, but they have interesting connections.  In mountain climbing, one sets out to reach the top, but doing so requires good planning and preparation—and careful deliberation with each move made.  Similarly, planning what happens to your assets and your children in the event you die requires

This week’s Word to the Wise is Estate: Everything you own—money, property, residences, personal possessions, businesses, and so on.   Why does a full understanding of your estate matter now?   Fully understanding your estate better prepares you for how you want everything handled after you pass away. It helps you decide what you want to give, how much, and to whom, whether people or causes.   With LegacyWise, you gain a full understanding now

This week’s Word to the Wise for estate planning is: Physical Assets: Things you own that can be physically touched, such as books, property, vehicles, and clothing. Physical assets do not include real estate. Why do “physical assets” matter in estate planning?   All physical assets are part of your estate. After you die, your personal representative will take a full inventory of your physical assets.   If you want to give specific items to