Many websites offer customized, do-it-yourself wills and other estate planning documents, but although these products are convenient, using them could cause serious and expensive legal problems for heirs.
Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear.
More and more transactions are done digitally, but estate planning has lagged behind technology. That may be changing, though. Even before the coronavirus pandemic made social distancing necessary, electronic wills were gaining legitimacy.
A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” There are many benefits to creating a trust.