What is the Difference between a Will and a Trust

What is the Difference between a Will and a Trust

At some point, you have more than likely heard the terms will and trust, especially if you are looking at doing some estate planning.  Often, they seemed to be used interchangeably.  However, they do not refer to the same thing at all. Here are some key points to help...
What’s an Estate Final Accounting

What’s an Estate Final Accounting

An estate final accounting is the last step in the process of closing an estate and distributing the assets.  The process and forms required differ from state to state so it is important to check on the particulars required for your state.  The estate’s final...
Why Naming Beneficiaries on Assets Outside a Will is Important

Why Naming Beneficiaries on Assets Outside a Will is Important

Individuals have the ability to designate beneficiaries directly on assets such as investments, annuities, insurance products, and registered plans.  By choosing to handle assets in this manner, the proceeds of the assets go directly to the beneficiary (or...
What is Probate?

What is Probate?

Probate is the court process through which a will is proved valid or invalid.  It is the legal process for administering the estate of the deceased. Steps Authenticating the Last Will and Testament Most states require that a will be filed with the probate court as...
What are the Most Common Types of Inherited Assets

What are the Most Common Types of Inherited Assets

When a loved one passes away, they typically leave behind an inheritance for their loved ones.  The inheritance can have monetary or sentimental value, or a combination of both. Here is a list of the most common types of inherited assets: Qualified Plans Qualified...