If the time has come where you're starting to seriously think about how to protect your assets and your family's inheritance in the event of your death, there are a lot of things you need to consider. Depending on your health and your medical situation, you may want to think about more long-term plans than just immediate solutions. A revocable living trust is just that sort of long-range solution. Here are a few reasons why you should be thinking about a plan like this.
Starting your own business can be an exciting, yet overwhelming experience considering all of the complexities involved, such as taxes, partnership agreements and intellectual property. At the start of a new business venture, many people are often focused solely on getting their service or product to market. Although this part of the process is important, it is also necessary to focus on long-term strategies and to protect you from the possibility of any adverse legal actions or consequences.
Being appointed personal representative (or executor) of a will is both an honor and a big responsibility. Only the most trustworthy and capable friends and family members are given this privilege, and taking these duties seriously is vital. One inescapable aspect of dealing with estate matters is the paperwork. Just knowing what's ahead could help you be better prepared once the time comes, so read on for a basic primer on what kind of documentation to expect as you carry out your personal representative duties.