The title of trustee implies that this position should be held by someone you find trustworthy, and for good reason. Serving as a trustee of a trust carries significant responsibility and duty not just to you as the trust’s creator but also to the beneficiaries who depend on accurate, faithful administration. While being named a trustee reflects a high level …
Receiving an inheritance, whether large or small, often comes with a wide range of emotions, from the grief of losing a loved one to the hope and excitement about the possibilities the inheritance may create. According to Northwestern Mutual’s 2025 Planning & Progress study, over half (57 percent) of Americans who expect to receive an inheritance view it as critical …
Estate planning often feels complex, leading many people to rely on assumptions that can have devastating consequences for their loved ones and their legacy. From who can make decisions for you to whether you need an estate plan, common myths can stand between you and a secure future. Let’s debunk these widespread misconceptions and reveal four essential truths about effective …
If you have been named the person responsible for settling a deceased loved one’s affairs, commonly called an executor or personal representative (if your loved one had no estate plan or had a will) or a successor trustee (if they had a trust), you may find yourself overwhelmed by grief and a growing list of responsibilities. As the person in …
Farmers and ranchers know that the land isn’t just a workplace – it’s a legacy. For many agricultural families across the U.S., the farm has been passed down through generations, each one building on the hard work of the last. But with today’s changing economic, legal, and family landscapes, planning for that legacy has become more complex than ever. That’s …
Creating a will or a trust should be a priority for several important reasons, including the following: Handling Digital Accounts Almost everyone has at least one account or digital presence online. Think about all your photos stored in the cloud, as well as your emails, social media profiles, online shopping accounts, online payment platforms (e.g., Venmo or PayPal), and online …
The idea of one-size-fits-all no longer fits a world where people expect products and services to be tailored to their individual preferences. The estate planning world, long rooted in tradition, has relied on time-tested tools such as trusts to plan for what happens to a person’s money and property. However, a nontraditional variation known as a directed trust has gained …
The United States is in the midst of the largest generational wealth transfer in history. Over the next few decades, baby boomers are expected to pass down an estimated $84 trillion in money and property, around $18–19 trillion of it related to residential real estate. For millions of younger Americans, this means inheriting a parent’s or grandparent’s home. But while …
Farming and ranching is more than just a livelihood; it is about preserving a legacy and a way of life. Unfortunately, many farmers and ranchers fail to create a comprehensive estate plan—or any estate plan at all. Without a proper estate plan, the family farm or ranch, passed down for generations, can end up being sold and converted to nonagricultural …
You and your spouse have recently divorced, and the judge has signed the divorce decree. Now what? Although you may feel that you have spent enough time and money on lawyers, there is one last attorney you need to talk to: an estate planning attorney. Estate planning after divorce is a crucial step to ensure your assets and wishes reflect …
You’ve just received your deployment orders. No matter how soon you’re leaving, there’s still time to ensure your affairs are in order. Estate planning for military families is a critical step in protecting your loved ones and securing your legacy while you serve. Review or prepare a Family Care Plan. Regardless of the branch of the military in which you …
You have likely been preparing for weeks to get your new college student off to school. It is exhilarating, and your heart may be bursting at the seams. You are probably prouder than words can express but also afraid. How can you ensure your child is safe at their new home away from home? A new matching sheet set for …