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Nineteen of our attorneys shared their top estate planning tips. The most common advice was to plan early, use trusts to avoid probate, and regularly update your plan after major life changes.
Major life events—such as welcoming a new child, losing a loved one, or relocating—are key moments to revisit your estate plan. In general without a major life event taking place, it’s a good idea to revisit your estate plan every 2-5 years. Whether you’re experiencing the birth of a child, the arrival of a new grandchild, a death in your family, or an estrangement from a family member, keeping your will and other documents up to date can help you stay prepared for the unexpected.
Whether you’re young or old, married or single, the best time to start estate planning is now. Every adult should create an estate plan to ensure they protect themselves and their loved ones, regardless of their age or the size of their assets.
Ask an attorney what the advantages of a trust are and he or she will inevitably include in that list “privacy”. But how can a trust provide privacy? There are two major ways that a trust provides additional privacy.
The terms “Personal Representative” and “Executor” mean the same thing. This is an individual or corporate entity that you appoint to be in charge of going to court, opening a probate (a mini lawsuit), and submitting your Will to a judge after you pass away.
Evans & Davis, a law firm rooted in compassion and excellence in estate and business planning, is proud to announce its merger with The Danley Law Firm, P.C. This relationship marks the beginning of a journey to continue supporting families and businesses in building secure, lasting legacies.
An Irrevocable Life Insurance Trust (ILIT) is a powerful tool that should be considered in wealth management and estate planning for those who may be approaching the estate tax threshold. An ILIT can provide you and your loved ones with significant benefits. The attorneys at Evans & Davis can assist you with determining if an ILIT is appropriate for you and your family.
An Advanced Directive is an essential part of a comprehensive estate plan. It clearly provides for your preferred healthcare treatment in the event you remain persistently unconscious or in an end-of-life condition. By creating this document, these important decisions will be made before they fall into the hands of your family and loved ones – reducing stress and conflict during an emotional and challenging time
A Financial Power of Attorney is a powerful tool for managing your financial affairs, especially in times of incapacity or unavailability. By understanding the different types (durable vs. springing) and what they offer, you can make informed decisions about your financial future.