Often when people mention the term 'will' they are referring to the document that is accessed when a person away and outlines how they want their estate to be handled. However, there are different types of wills that deal with very different things: a living will and a last will and testament. In this blog, we are going to explore these two types of wills and how they are used.
When it comes to estate planning, we often here the phrase 'last will and testament.' I think everyone probably has a good idea of what purpose the will serves, but what about the testament? The testament is a chance for you to make this legal document a little more personal and explain things to those who will be reading it after you pass. Let's look at some of the ways you can personalize your will with a testament.
When deciding what to include in your will and estate plan, there are certain things that should not make the cut. While your will is your own, there are always legal guidelines that should be followed if you want your will to be valid. Let's look at some of the things that you should leave out of your will.
Often after people have gone through the process of creating an estate plan, including a will, they feel like they can check that off their to-do list, never to revisit it again. However, that can be a hug mistake. While you can feel a sense of relief and peace for getting it done, it doesn't mean that your estate plan is good forever. Estate plans must be revisited and updated, because as your life changes, so should your estate plan.
While estate planning is important for all parents, it is especially important for single parents. This is because there isn't a second parent to fall back on if something happens to you. You want to make sure that your children taken care of both physically and financially if you were unable to.