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A revocable living trust is a valuable estate planning tool, but it needs to be used properly to be effective. While many people make a wise decision by choosing an estate plan that includes a living trust, they may make the mistake of never funding it, which may defeat part of its purpose. Learn more about what it means to fund a trust in this article.

Employees should promptly complete beneficiary designations for employer provided life insurance and retirement accounts to control who receives any remaining benefits at death. Life insurance beneficiaries may include one or more adults, a trust, or the insured’s estate, although naming an estate can result in probate, delays, and exposure to creditor claims. Naming a minor directly may require court supervised management of the proceeds until the beneficiary reaches the applicable legal age. Retirement account owners should also consider spousal consent requirements and establish an alternative funding source if they intend to leave a fixed amount that could exceed the account’s remaining balance.

A beneficiary is not required to accept an inheritance and may ask to be removed from an estate plan before death or formally disclaim property afterward. Reasons for declining may include avoiding family conflict, preserving personal independence, limiting burdens associated with unwanted assets, protecting benefits eligibility, or honoring personal values. Because wills, trusts, insurance policies, retirement accounts, and other beneficiary arrangements operate separately, an heir may decline one benefit while accepting another. Careful estate planning can respect an heir’s wishes while preserving targeted benefits for that person or their descendants.

Estate planning failures often arise from procrastination, misconceptions about who needs a plan, and reliance on a will as a complete solution. A comprehensive plan should coordinate beneficiary designations, property ownership, trusts, powers of attorney, and healthcare directives while complying with state-specific execution requirements. Plans should be reviewed after major life, family, financial, or geographic changes and should account candidly for relevant family dynamics. Executors, trustees, guardians, and agents should be selected based on competence, reliability, judgment, and availability rather than age, obligation, or emotion.

A digital vault provides a secure, centralized location for important legal, financial, medical, property, and online account information that family members may need during incapacity, a disaster, or estate administration. Although it can improve organization and accessibility, it does not make estate-planning documents legally valid or grant anyone authority to act. Users should select a platform with robust security, appropriate access controls, straightforward usability, and reliable data-export options, while clearly informing trusted individuals how to obtain access. Regular updates and coordination with properly executed estate-planning documents are essential to ensuring that the vault remains accurate and useful.

A right of first refusal (ROFR) can be incorporated into an estate plan to give a designated person the opportunity to purchase valuable family property before it is sold to an outside buyer. The right may be established through a will or revocable living trust, offering the owner flexibility, or through a separate contract that generally provides the beneficiary greater certainty. Careful drafting should address the purchase price, valuation method, exercise period, funding requirements, waiver, amendment, recording, and sale procedures. When properly structured, an ROFR can help preserve a family home, farm, or business while ensuring that other beneficiaries receive equitable shares of the estate.

Juggling family, career, and long-term goals keeps you busy, but that's no excuse to push aside something as crucial as estate planning. Take time now to review your financial and legal checklist—from updating beneficiary designations to reviewing wills and trusts—and check off these 10 essential tasks to safeguard your family's future.

Employee onboarding decisions can significantly affect an employee’s financial future and the interests of loved ones, particularly when completing beneficiary designations for life insurance and retirement accounts. Because these designations generally override a will or trust, they should be completed accurately, include contingent beneficiaries, and account for any spousal-consent requirements. Employees receiving company stock or other ownership interests should understand vesting, tax, transfer, and death-related provisions. A coordinated estate plan—including a will or trust, financial and medical powers of attorney, an advance directive, and a HIPAA authorization—can help protect employment benefits and provide for incapacity or death.

Starting a new job is an appropriate time to reassess financial and estate-planning arrangements in light of changes to income, expenses, and employee benefits. Key steps include preparing a comprehensive budget, securing adequate property, life, and disability insurance, and evaluating how the new role affects tax withholding, deductions, and overall tax liability. Employees should also create or update essential estate-planning documents to address incapacity, beneficiary arrangements, and the transfer of assets at death. Coordinating these measures with financial, tax, insurance, and estate-planning professionals can provide comprehensive protection for the employee and their dependents.

Having an estate plan is not enough; understanding its terms and keeping them current are essential to ensuring that the plan works as intended. This quiz tests whether key details remain clear, including fiduciary appointments, guardianship choices, inheritance terms, beneficiary designations, asset titling, document storage, and digital asset planning. Uncertainty about these matters may indicate that documents, appointments, or ownership arrangements no longer reflect current circumstances. Periodic reviews can identify and correct gaps before incapacity or death puts the plan to a real-life test.

Snowbirds should distinguish domicile—their single permanent legal home—from residence because domicile can determine probate jurisdiction, governing law, and state estate or inheritance tax exposure. Although an out-of-state will generally remains valid, a coordinated review can ensure that wills, trusts, powers of attorney, and healthcare directives function effectively across both states. A revocable living trust may help avoid ancillary probate for property owned in another state, while consistent records and conduct are important to establish domicile. Estate documents should be securely stored yet readily accessible, and fiduciaries should be selected based on their availability, capability, and proximity to relevant property, courts, or healthcare providers.

Renting out a second home can offset ownership costs and reduce vacancy, but snowbirds should first assess local rental restrictions, association rules, insurance needs, and potential liability. Holding the property through an LLC may provide some protection, although that protection is limited and transferring mortgaged property can trigger lending, tax, insurance, and estate-planning consequences. Owners must also understand federal tax rules governing rental income, personal use, expense allocation, and deductions while maintaining detailed records. Before each rental, the property should be secured, inspected, documented, and prepared to satisfy applicable safety and occupancy requirements.

Snowbirds who divide their time between states should understand how residency and domicile may affect taxes, property rights, estate planning, and access to state benefits. Before traveling, they should review their estate plan, beneficiary designations, and financial and healthcare powers of attorney to ensure that appointed decision-makers remain appropriate and documents reflect current wishes. Those who own property in multiple states may benefit from a revocable living trust to reduce the risk of separate probate proceedings. Because estate planning laws and accepted forms vary by state, documents should account for the requirements and practical procedures of each jurisdiction.

This blog explores the financial, emotional, and practical costs families may face when estate disputes lead to litigation. It examines common reasons families go to court, including will contests, trust disputes, fiduciary issues, and financial exploitation, while also considering when litigation may or may not be appropriate. The article also highlights mediation as an alternative that may help families resolve disputes while preserving time, privacy, and relationships.

This blog explores an often-overlooked estate planning issue for college students: digital access and emergency preparedness. Once a student becomes an adult, parents may no longer have automatic access to their medical, financial, educational, or digital information, even when they need to help in an emergency. Learn how powers of attorney, healthcare documents, privacy authorizations, and thoughtful digital planning can help bridge the gap between a student’s independence and a parent’s ability to assist when needed.

This blog explains how to make your wishes regarding organ and tissue donation legally clear and more likely to be honored after your death. It covers what can be donated, the importance of registering as a donor, documenting your wishes in appropriate healthcare and estate planning documents, and communicating your decisions to loved ones. The article also explains what may happen if you do not formally document your wishes and offers guidance for incorporating organ donation into your overall estate plan.

Wondering if you can legally shield your assets from future creditors? This article examines the difference between revocable and irrevocable trusts and their effectiveness in protecting your legacy

This blog explains how per stirpes, by representation, and per capita distributions determine how an estate passes to descendants when a beneficiary dies before the person creating the estate plan. Through easy-to-follow family examples, it illustrates how these distribution methods can produce very different results among children and grandchildren. Because these terms can vary depending on state law and the language of the estate planning document, understanding the specific provisions of your plan is essential.

This blog addresses common myths and questions about estate planning for single individuals. It explains how state intestacy laws determine who inherits your money and property when you do not have an estate plan. Learn why you do not need to have every decision figured out before beginning the planning process and how an estate plan can protect your wishes, provide for loved ones, and designate trusted individuals to make financial and medical decisions on your behalf.

Loyalty points, airline miles, credit card rewards, gift cards, and travel credits can represent meaningful financial value, yet they are often overlooked in estate planning because they are governed by program contracts rather than traditional property rights. What happens to these rewards after death varies by program, with some balances forfeited, others subject to discretionary transfers, and some converted to cash or handled through specific administrative procedures. Families can help preserve this value by maintaining an inventory of rewards accounts, securely documenting access information, and making sure the executor knows about significant balances and applicable program rules. Including digital rewards in the estate planning conversation can help ensure that any available benefits are identified, protected, and used according to the program’s terms.

When a parent experiences a health crisis, informal family agreements and good intentions may not provide the legal authority needed to make financial or healthcare decisions. Without clear roles and properly executed documents, families can face delays, confusion, and conflict while hospitals, banks, and other institutions require formal authorization. Establishing powers of attorney, advance healthcare directives, backup decision-makers, and clearly defined roles can provide structure and reduce uncertainty during a difficult time. Planning ahead allows families to approach a crisis with a clear framework rather than having to make important decisions from scratch.

When a college-aged child signs a dorm agreement or off-campus lease, parents who cosign or act as guarantors may take on significant financial and legal obligations—even though they may have little control over the student’s housing or behavior. Understanding the difference between tenants, guarantors, individual leases, and joint leases can help families identify potential risks before signing. Parents should also consider setting clear limits on financial support and reviewing powers of attorney, healthcare directives, and other planning documents as their child reaches adulthood. Careful planning can help parents support their college student while protecting their own finances and broader estate planning goals.

Your estate plan should address more than your home, bank accounts, and other traditional assets—it should also consider valuable intellectual property, such as copyrights, patents, trademarks, artwork, music, inventions, and online content. Properly protecting and planning for these assets can help preserve their value, manage associated rights and royalties, and ensure they pass to your loved ones according to your wishes. Because different types of intellectual property have different legal and estate planning considerations, it is important to maintain accurate ownership records and coordinate with appropriate legal professionals. Thoughtful planning can help protect the products of your creativity and provide greater continuity for your family after your death.

Divorce can be a painful and overwhelming process, as anyone who has gone through it knows. In this article, we look at the various changes necessary to ensure your estate planning continues to serve you after your divorce.

Death, disability, and decline are uncomfortable but essential topics for elder law attorneys to address with clients. Our latest article offers practical communication strategies to navigate these difficult conversations with tact and empathy.