How Is a Living Trust Different from a Will?

A living trust and a will are both estate planning tools used to manage the distribution of a person’s assets after their death, but there are some key differences between the two: Probate: A will must go through the probate process, which is a legal proceeding...

Can Loved One’s Funeral Expenses Be Deducted?

Many people ask if funeral expenses are tax-deductible. The answer depends on who is paying and what kind of estate is left behind, says MSN’s recent article entitled “10 Tax-Deductible Funeral Service Costs.” Unfortunately, funeral expenses are not tax-deductible for...

Is Spouse Automatically Your Beneficiary?

People make a grave error when they don’t have a will because they think their surviving spouse will automatically inherit all of their worldly goods. The laws of intestacy work differently, as explained in a recent article “Estate Planning: The spouse doesn’t always...

Keeping Beneficiary Designations Up to Date

If you don’t know who your beneficiaries are, then it’s time for a beneficiary designation check. Even if you think you remember, every now and then, they should be checked, according to an article “Are your beneficiary designations up to date?” from Community Voice....

Unequal Inheritances

In this case, one brother left New York and had nothing to do with his brother for the rest of their lives. Unequal inheritances almost always lead to poor feelings between siblings, says a recent article “Where There’s a Will, There Can Be a War” from Next Avenue....

The Benefits of a Good Estate Plan

If you don’t have a comprehensive estate plan, state law will control. That’s unlikely to coincide with what you would choose to do. MSN’s recent article entitled “What is estate planning?” discusses the benefits of good estate planning. Minimizes taxes. Clever...