Estate Planning Blog - Bernard Estate Planning

Do I Really Need a Will?

There are certain financial goals that it's important to check off your list, like having enough money in a savings account to cover emergency expenses and eliminating unhealthy debt. However, here's one goal many people gloss over -- creating a will.

Posted on: February 18, 2022

Write a Letter of Instruction for Loved Ones

Executors can use additional information in administering estates, especially if the executor is unrelated to the decedent.

Posted on: February 17, 2022

What Should Not Be Included in Trust?

A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries and it can significantly reduce the headaches of probate.

Posted on: February 16, 2022

What Legal Terms in Estate Planning do Non-Lawyers Need to Know?

For most people, entering the realm of estate planning can feel a bit like traveling as a tourist into another culture. Because the language itself is unfamiliar, asking a question can result in an answer that is equally confusing.

Posted on: February 15, 2022

Why Should I Have a Living Will?

As a review of terms, a will is a legal document that specifies how a person’s estate should be handled only after that person’s death. A living will has nothing to do with how your “things” like property, money, jewelry, etc. are to be distributed. Unlike a will, it is, in fact, a document that comes into play while you’re still alive.

Posted on: February 13, 2022

Can You Keep Your Children from Inheriting Your Money?

I’ve decided I no longer want to leave my estate to my children. They are ungrateful brats. How can I set things up to give my money to charity when I die?

Posted on: February 12, 2022

What are the Most Common Estate Planning Mistakes?

With apologies to poet Robert Burns, the best-laid estate plans of women and men sometimes go awry.

Posted on: February 11, 2022

What Is the HEMS Standard?

The ‘HEMS’ (health, education, maintenance, support) standard in estate planning is used to guide trustees in how/when they should release funds to a beneficiary.

Posted on: February 10, 2022

What’s the Difference between Probate Assets and Non-Probate Assets?

Non-probate assets are those assets which do not go into an estate when the owner dies.

Posted on: February 9, 2022

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