Estate Planning Blog

Estate Planning

How to Avoid Basic Estate Planning Miscues

In some cases, estate planning can be quite simple. In others, it can be a complex process with far-reaching consequences. In either case, it is important to review your wishes and have the proper documents prepared to ensure that they are followed at your death.

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Must I have ‘Prince’-like Riches to Need a Will?

When the legendary singer, songwriter and performer Prince died suddenly in 2016, he left an estate estimated to be worth between $50 and $300 million dollars – and no will. Without a spouse, living parents or children, his sister and five half siblings have been battling it out since, in one of the most complicated probate court proceedings in Minnesota history, with tens of millions of dollars being spent on fees for lawyers and consultants.

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Why are Beneficiary Designations Important in Estate Planning

Why are Beneficiary Designations Important in Estate Planning?

Vanguard has sent me a beneficiary designation verification letter. For the primary beneficiary, it says it will be the person I am married to at the time of my death. For the secondary beneficiary, it says, my descendants “per stirpes.” I have one child. Should the beneficiary designation include his name?

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